Zhone Technologies Inc Stock Forecast
Evaluation of Zhone Technologies Inc stock downgraded after the last trading session.
(Updated on Jun 17, 2024)
The Zhone Technologies Inc stock price fell by -3.45% on the last day (Monday, 17th Jun 2024) from $1.45 to $1.40. During the last trading day the stock fluctuated 4.32% from a day low at $1.39 to a day high of $1.45. The price has fallen in 6 of the last 10 days and is down by -9.97% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -77 thousand shares and in total, 67 thousand shares were bought and sold for approximately $93.26 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.32% during the next 3 months and, with a 90% probability hold a price between $1.35 and $2.34 at the end of this 3-month period.
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DZSI Signals & Forecast
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. The Zhone Technologies Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.53 and $1.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -18.60%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zhone Technologies Inc stock
Zhone Technologies Inc finds support from accumulated volume at $1.37 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 4.32%. For the last week the stock has had daily average volatility of 8.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DZSI) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Zhone Technologies Inc to open at $1.41, and during the day (based on 14 day Average True Range), to move between $1.25 and $1.55, which gives a possible trading interval of +/-$0.152 (+/-10.87%) up or down from last closing price. If Zhone Technologies Inc takes out the full calculated possible swing range there will be an estimated 21.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.37 (2.14%) than the resistance at $1.52 (8.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhone Technologies Inc stock A Buy?
The Zhone Technologies Inc stock holds several negative signals and despite the positive trend, we believe Zhone Technologies Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.946 Sell Candidate Downgraded
Predicted Opening Price for Zhone Technologies Inc of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $1.41 ( 0.95%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DZSI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.47 | 5.24% |
| R2 | 1.45 | 3.60% |
| R1 | 1.44 | 2.59% |
| Price | 1.40 | |
| S1 | 1.39 | -0.685% |
| S2 | 1.38 | -1.70% |
| S3 | 1.35 | -3.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.55 | 10.71% |
| R2 | 1.53 | 9.29% |
| R1 | 1.52 | 8.57% |
| Price | 1.40 | |
| S1 | 1.37 | -2.14% |
| S2 | 1.35 | -3.57% |
| S3 | 1.29 | -7.86% |
FAQ
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