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Zomedica Pharmaceuticals Corp stock price ended on $0.95 on Monday after losing 0.0845%

StockInvest.us, 3 months ago

StockInvest.us

The Zomedica Pharmaceuticals Corp stock price fell by -0.0845% on the last day (Monday, 14th Jun 2021) from $0.95 to $0.95. During the day the stock fluctuated 5.47% from a day low at $0.93 to a day high of $0.98. The price has been going up and down for this period, and there has been a 12.6% gain for the last 2 weeks. Volume has increased on the last day by 9 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, 30 million shares were bought and sold for approximately $28.43 million.

HC Wainwright is very positive about ZOM and gave it a "Buy" rating on November 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 -47.73% during the next 3 months and, with a 90% probability hold a price between $0.17 and $0.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Zomedica Pharmaceuticals Corp

The Zomedica Pharmaceuticals Corp stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $0.95. On a fall, the stock will find some support from the long-term average at approximately $0.89. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 31.32%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $0.92 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0508 between high and low, or 5.47%. For the last week, the stock has had a daily average volatility of 6.15%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Check full Zomedica Pharmaceuticals Corp forecast and analysis here.