Zenith Energy Ltd. Stock Forecast
Zenith Energy Ltd. stock price ended at kr0.268 on Tuesday, after losing 0.741%.
(Updated on Jul 02, 2024)
The Zenith Energy Ltd. stock price fell by -0.741% on the last day (Tuesday, 2nd Jul 2024) from kr0.270 to kr0.268. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.34% from a day low at kr0.268 to a day high of kr0.285. The price has fallen in 8 of the last 10 days and is down by -18.54% for this period. Volume has increased on the last day by 246 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, 365 thousand shares were bought and sold for approximately kr97.70 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 -12.80% during the next 3 months and, with a 90% probability hold a price between kr0.211 and kr0.280 at the end of this 3-month period.
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ZENA.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Zenith Energy Ltd. 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 kr0.283 and kr0.291. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -18.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Zenith Energy Ltd. 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zenith Energy Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr0.0170 between high and low, or 6.34%. For the last week, the stock has had daily average volatility of 6.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZENA.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Zenith Energy Ltd. to open at kr0.274, and during the day (based on 14 day Average True Range), to move between kr0.240 and kr0.296, which gives a possible trading interval of +/-kr0.0278 (+/-10.37%) up or down from last closing price. If Zenith Energy Ltd. takes out the full calculated possible swing range there will be an estimated 20.73% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr0.284, some kr0.0160 (5.97%) from the current price of kr0.268, our system finds the risk reward not very attractive.
Is Zenith Energy Ltd. stock A Buy?
Zenith Energy Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.509 Sell Candidate Unchanged
Predicted Opening Price for Zenith Energy Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr0.274 ( 2.11%) | kr0.268 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZENA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.291 | 8.46% |
| R2 | 0.284 | 6.03% |
| R1 | 0.280 | 4.54% |
| Price | 0.268 | |
| S1 | 0.267 | -0.309% |
| S2 | 0.263 | -1.81% |
| S3 | 0.257 | -4.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.300 | 11.94% |
| R2 | 0.295 | 10.07% |
| R1 | 0.284 | 5.97% |
| Price | 0.268 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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