Zoomcar Holdings, Inc. Stock Forecast

Big movements in Zoomcar Holdings, Inc. stock price on Monday moving 27.39% between high and low
(Updated on Jun 17, 2024)

ZCARW Signals & Forecast

The Zoomcar Holdings, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0130 and $0.0172. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 74.04%. Further rise is indicated until a new top pivot has been found. Zoomcar Holdings, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Zoomcar Holdings, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0156 and $0.0152. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zoomcar Holdings, Inc. finds support just below today's level at $0.0156. If this is broken, then the next support from accumulated volume will be at $0.0152 and $0.0148.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0043 between high and low, or 27.39%. For the last week, the stock has had daily average volatility of 22.12%.

Our recommended stop-loss: $0.0174 (-3.90%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (ZCARW) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Zoomcar Holdings, Inc. to open at $0.0179, and during the day (based on 14 day Average True Range), to move between $0.0097 and $0.0265, which gives a possible trading interval of +/-$0.0084 (+/-46.40%) up or down from last closing price. If Zoomcar Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 92.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0190 (4.97%) than the support at $0.0156 (13.81%), 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?

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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.239 Buy Candidate Upgraded

Predicted Opening Price for Zoomcar Holdings, Inc. of Tuesday, June 18, 2024

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