Zedge Inc. Class B Stock Forecast
Zedge Inc. Class B stock price down 1.04% on Wednesday
(Updated on Jun 26, 2024)
The Zedge Inc. Class B stock price fell by -1.04% on the last day (Wednesday, 26th Jun 2024) from $2.88 to $2.85. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.56% from a day low at $2.82 to a day high of $3.01. The price has fallen in 8 of the last 10 days and is down by -15.93% for this period. Volume has increased on the last day by 11 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 58 thousand shares were bought and sold for approximately $164.54 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 15.90% during the next 3 months and, with a 90% probability hold a price between $3.01 and $4.02 at the end of this 3-month period.
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ZDGE Signals & Forecast
The Zedge Inc. Class B 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 $2.78 and $2.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 11.33%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Zedge Inc. Class B 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 Zedge Inc. Class B stock
Zedge Inc. Class B finds support from accumulated volume at $2.71 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.185 between high and low, or 6.56%. For the last week, the stock has had daily average volatility of 9.68%.
Our recommended stop-loss: $2.77 (-2.92%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (ZDGE) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Zedge Inc. Class B to open at $2.89, and during the day (based on 14 day Average True Range), to move between $2.59 and $3.11, which gives a possible trading interval of +/-$0.265 (+/-9.28%) up or down from last closing price. If Zedge Inc. Class B takes out the full calculated possible swing range there will be an estimated 18.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.91 (2.11%) than the support at $2.71 (4.91%), 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 Zedge Inc. Class B stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Zedge Inc. Class B stock to perform well in the short-term.
Current score: 2.262 Buy Candidate Unchanged
Predicted Opening Price for Zedge Inc. Class B of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $2.89 ( 1.46%) | $2.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZDGE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.08 | 7.95% |
| R2 | 3.01 | 5.47% |
| R1 | 2.96 | 3.94% |
| Price | 2.85 | |
| S1 | 2.82 | -1.02% |
| S2 | 2.78 | -2.55% |
| S3 | 2.71 | -5.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.39 | 18.95% |
| R2 | 3.14 | 10.18% |
| R1 | 2.91 | 2.11% |
| Price | 2.85 | |
| S1 | 2.71 | -4.91% |
| S2 | 2.45 | -14.04% |
| S3 | 2.40 | -15.79% |
FAQ
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