Zealand Pharma A/S Stock Forecast

Zealand Pharma A/S stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

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 kr821.29 and kr670.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 45.95%. 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 is rising along with the price. This is considered to be a good technical signal.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for Zealand Pharma A/S stock

Zealand Pharma A/S finds support from accumulated volume at kr873.50 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 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 kr36.00 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 5.29%.

The Zealand Pharma A/S stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: kr861.62 (-3.46%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (ZEAL.CO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Zealand Pharma A/S to open at kr896.17, and during the day (based on 14 day Average True Range), to move between kr850.61 and kr934.39, which gives a possible trading interval of +/-kr41.89 (+/-4.69%) 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 9.39% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr873.50, some kr19.00 (2.13%) from the current price of kr892.50, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Monday, July 1, 2024

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