Zoomcar Holdings, Inc. Stock Forecast
Zoomcar Holdings, Inc. stock price took a fall of -5.13% on Tuesday
(Updated on Jun 25, 2024)
The Zoomcar Holdings, Inc. stock price fell by -5.13% on the last day (Tuesday, 25th Jun 2024) from $0.154 to $0.146. During the last trading day the stock fluctuated 6.10% from a day low at $0.141 to a day high of $0.150. The price has fallen in 6 of the last 10 days and is down by -12.26% 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 -3 million shares and in total, 2 million shares were bought and sold for approximately $268.43 thousand.
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 -65.25% during the next 3 months and, with a 90% probability hold a price between $0.0252 and $0.0761 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.
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ZCAR Signals & Forecast
There are mixed signals in the stock today. The Zoomcar Holdings, 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 $0.148 and $0.205. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 3.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zoomcar Holdings, Inc. stock
Zoomcar Holdings, Inc. finds support from accumulated volume at $0.143 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 $0.0086 between high and low, or 6.10%. For the last week the stock has had daily average volatility of 11.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZCAR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Zoomcar Holdings, Inc. to open at $0.146, and during the day (based on 14 day Average True Range), to move between $0.118 and $0.174, which gives a possible trading interval of +/-$0.0281 (+/-19.26%) up or down from last closing price. If Zoomcar Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 38.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.146 (0.14%) than the support at $0.143 (2.05%), 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 Zoomcar Holdings, Inc. stock A Buy?
Zoomcar Holdings, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.229 Sell Candidate Unchanged
Predicted Opening Price for Zoomcar Holdings, Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.146 ( 0.320%) | $0.146 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZCAR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.154 | 5.57% |
| R2 | 0.151 | 3.32% |
| R1 | 0.149 | 1.93% |
| Price | 0.146 | |
| S1 | 0.142 | -2.57% |
| S2 | 0.140 | -3.96% |
| S3 | 0.137 | -6.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.158 | 8.15% |
| R2 | 0.151 | 3.22% |
| R1 | 0.146 | 0.137% |
| Price | 0.146 | |
| S1 | 0.143 | -2.05% |
| S2 | 0.142 | -3.01% |
| S3 | 0 | - |
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