Zomedica Pharmaceuticals Corp stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.

The Zomedica Pharmaceuticals Corp stock price fell by -1.80% on the last day (Thursday, 3rd Mar 2022) from $0.37 to $0.36. and has now fallen 3 days in a row. During the day the stock fluctuated 6.06% from a day low at $0.36 to a day high of $0.39. The price has been going up and down for this period, and there has been a -4.1% loss for the last 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 million shares were bought and sold for approximately $6.91 million.

HC Wainwright is very positive about ZOM and gave it a "Buy" rating on Nov 16, 2020. The price target was changed from $0.50 to $0.30.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -3.89% during the next 3 months and, with a 90% probability hold a price between $0.26 and $0.38 at the end of this 3-month period.

The Zomedica Pharmaceuticals Corp stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.36 and $0.33. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 01, 2022, and so far it has fallen -8.81%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Zomedica Pharmaceuticals Corp finds support from accumulated volume at $0.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0220 between high and low, or 6.06%. For the last week, the stock has had a daily average volatility of 11.59%.

Zomedica Pharmaceuticals Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.