Zambeef Products Stock Forecast
Zambeef Products stock price down 0% on Friday
(Updated on Apr 26, 2024)
No changes to the price of Zambeef Products stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 3.60% from a day low at £5.55 to a day high of £5.75. The price has risen in 4 of the last 10 days and is up by 4.55% over the past 2 weeks.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zambeef Products stock with a 90% probability to be traded between £5.48 and £5.98 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ZAM.L Signals & Forecast
There are few to no technical positive signals at the moment. The Zambeef Products 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 £5.84 and £5.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -4.17%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
A sell signal from a double top formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should fall by -3.38% to £5.56 within 9 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Zambeef Products stock
Zambeef Products finds support from accumulated volume at £5.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved £0.200 between high and low, or 3.60%. For the last week the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZAM.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Zambeef Products to open at £5.68, and during the day (based on 14 day Average True Range), to move between £5.53 and £5.97, which gives a possible trading interval of +/-£0.224 (+/-3.89%) up or down from last closing price. If Zambeef Products takes out the full calculated possible swing range there will be an estimated 7.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £5.80 (0.87%) than the support at £5.70 (0.87%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Zambeef Products stock A Buy?
Zambeef Products holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.156 Sell Candidate Unchanged
Predicted Opening Price for Zambeef Products of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £5.68 ( 1.16%) | £5.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZAM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.88 | 2.32 % | |
| R2 | 5.81 | 0.99 % | ||
| R1 | 5.76 | 0.169 % | ||
| Current price: | 5.75 | |||
| Support | S1 | 5.61 | -2.49 % | |
| S2 | 5.56 | -3.31 % | ||
| S3 | 5.48 | -4.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.00 | 4.35 % | |
| R2 | 5.98 | 3.91 % | ||
| R1 | 5.80 | 0.87 % | ||
| Current price | 5.75 | |||
| Support | S1 | 5.70 | -0.87% | |
| S2 | 5.65 | -1.74% | ||
| S3 | 5.55 | -3.48% |
ZAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2011 | Dec 22, 2011 | Dec 22, 2011 | £0.450 | 0.93% |
| 2 | Dec 21, 2011 | Dec 21, 2011 | Dec 21, 2011 | £2,140.00 | 4,412.37% |
FAQ
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