Zenith Energy Ltd. Stock Forecast
Big movements in Zenith Energy Ltd. stock price on Thursday moving 18.57% between high and low
(Updated on May 16, 2024)
The Zenith Energy Ltd. stock price gained 5.73% on the last trading day (Thursday, 16th May 2024), rising from kr0.279 to kr0.295. During the last trading day the stock fluctuated 18.57% from a day low at kr0.280 to a day high of kr0.332. The price has been going up and down for this period, and there has been a -1.34% loss for the last 2 weeks. Volume fell on the last day by -39 thousand shares and in total, 419 thousand shares were bought and sold for approximately kr123.49 thousand. 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.
The stock lies in the middle of a 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 -19.47% during the next 3 months and, with a 90% probability hold a price between kr0.212 and kr0.257 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ZENA.OL Signals & Forecast
There are mixed signals in the stock today. The Zenith Energy Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr0.317. On a fall, the stock will find some support from the short-term average at kr0.282. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 9.67%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Zenith Energy Ltd. stock
Zenith Energy Ltd. finds support from accumulated volume at kr0.284 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.0520 between high and low, or 18.57%. For the last week the stock has had daily average volatility of 9.90%.
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 Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Zenith Energy Ltd. to open at kr0.302, and during the day (based on 14 day Average True Range), to move between kr0.265 and kr0.325, which gives a possible trading interval of +/-kr0.0299 (+/-10.14%) up or down from last closing price. If Zenith Energy Ltd. takes out the full calculated possible swing range there will be an estimated 20.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr0.284 (3.73%) than the resistance at kr0.320 (8.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zenith Energy Ltd. stock A Buy?
Zenith Energy Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.786 Sell Candidate Unchanged
Predicted Opening Price for Zenith Energy Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr0.302 ( 2.49%) | kr0.295 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.354 | 20.11 % | |
| R2 | 0.334 | 13.38 % | ||
| R1 | 0.322 | 9.22 % | ||
| Current price: | 0.295 | |||
| Support | S1 | 0.282 | -4.25 % | |
| S2 | 0.270 | -8.41 % | ||
| S3 | 0.250 | -15.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.350 | 18.64 % | |
| R2 | 0.330 | 11.73 % | ||
| R1 | 0.320 | 8.47 % | ||
| Current price | 0.295 | |||
| Support | S1 | 0.284 | -3.73% | |
| S2 | 0.279 | -5.42% | ||
| S3 | 0.276 | -6.44% |
FAQ
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