Zealand Pharma A/S Stock Forecast
Volatile ride for Zealand Pharma A/S stock price on Tuesday moving between kr809.00 and kr894.50
(Updated on Jun 25, 2024)
The Zealand Pharma A/S stock price gained 9.49% on the last trading day (Tuesday, 25th Jun 2024), rising from kr811.00 to kr888.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.57% from a day low at kr809.00 to a day high of kr894.50. The price has risen in 6 of the last 10 days and is up by 37.25% over the past 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 549 thousand shares were bought and sold for approximately kr487.57 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 8.04% during the next 3 months and, with a 90% probability hold a price between kr679.93 and kr959.38 at the end of this 3-month period.
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ZEAL.CO Signals & Forecast
The Zealand Pharma A/S stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr722.71 and kr648.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 52.71%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Zealand Pharma A/S stock
On the downside, the stock finds support just below today's level from accumulated volume at kr811.00 and kr767.50. 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, Zealand Pharma A/S finds support just below today's level at kr811.00. If this is broken, then the next support from accumulated volume will be at kr767.50 and kr681.50.
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 kr85.50 between high and low, or 10.57%. For the last week, the stock has had daily average volatility of 6.49%.
The Zealand Pharma A/S stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: kr862.43 (-2.88%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 71 days ago.)
Trading Expectations (ZEAL.CO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Zealand Pharma A/S to open at kr863.83, and during the day (based on 14 day Average True Range), to move between kr844.02 and kr931.98, which gives a possible trading interval of +/-kr43.98 (+/-4.95%) up or down from last closing price. If Zealand Pharma A/S takes out the full calculated possible swing range there will be an estimated 9.90% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr811.00, some kr77.00 (8.67%) from the current price of kr888.00, our system finds the risk reward attractive.
Is Zealand Pharma A/S stock A Buy?
Zealand Pharma A/S holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Zealand Pharma A/S of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr863.83 ( 2.72%) | kr888.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZEAL.CO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 949.33 | 6.91% |
| R2 | 916.67 | 3.23% |
| R1 | 896.49 | 0.96% |
| Price | 888.00 | |
| S1 | 831.17 | -6.40% |
| S2 | 810.99 | -8.67% |
| S3 | 778.33 | -12.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 888.00 | |
| S1 | 811.00 | -8.67% |
| S2 | 767.50 | -13.57% |
| S3 | 681.50 | -23.25% |
FAQ
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