ICZOOM Group Inc. Stock Forecast

Big movements in ICZOOM Group Inc. stock price on Friday moving 15.42% between high and low
(Updated on May 10, 2024)

IZM Signals & Forecast

There are few to no technical positive signals at the moment. The ICZOOM Group Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.44 and $3.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -29.22%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ICZOOM Group Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for ICZOOM Group Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.330 between high and low, or 15.42%. For the last week the stock has had daily average volatility of 10.65%.

Our recommended stop-loss: $2.06 (-5.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (IZM) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect ICZOOM Group Inc. to open at $2.26, and during the day (based on 14 day Average True Range), to move between $1.68 and $2.68, which gives a possible trading interval of +/-$0.501 (+/-22.97%) up or down from last closing price. If ICZOOM Group Inc. takes out the full calculated possible swing range there will be an estimated 45.94% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $2.46, some $0.280 (12.84%) from the current price of $2.18, our system finds the risk reward not very attractive.

Is ICZOOM Group Inc. stock A Buy?

ICZOOM Group Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for ICZOOM Group Inc. of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.