Zeo Energy Corp. Stock Forecast
Red day on Tuesday for Zeo Energy Corp.
(Updated on Jun 25, 2024)
The Zeo Energy Corp. stock price fell by -2.87% on the last day (Tuesday, 25th Jun 2024) from $3.48 to $3.38. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 5.46% from a day low at $3.28 to a day high of $3.46. The price has fallen in 8 of the last 10 days and is down by -24.22% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately $5.84 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($3.63) are considered to be a "second chance" to get out. According to the fan-theory $3.00 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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ZEO Signals & Forecast
There are few to no technical positive signals at the moment. The Zeo Energy Corp. 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 $4.06 and $4.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -32.94%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zeo Energy Corp. 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 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 $0.179 between high and low, or 5.46%. For the last week the stock has had daily average volatility of 12.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZEO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Zeo Energy Corp. to open at $3.37, and during the day (based on 14 day Average True Range), to move between $3.05 and $3.71, which gives a possible trading interval of +/-$0.331 (+/-9.78%) up or down from last closing price. If Zeo Energy Corp. takes out the full calculated possible swing range there will be an estimated 19.56% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.48, some $0.100 (2.96%) from the current price of $3.38, our system finds the risk reward not very attractive.
Is Zeo Energy Corp. stock A Buy?
Zeo Energy Corp. holds several negative signals and is within a 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: -7.125 Strong Sell Candidate Unchanged
Predicted Opening Price for Zeo Energy Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $3.37 ( 0.205%) | $3.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZEO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.55 | 5.10% |
| R2 | 3.48 | 3.07% |
| R1 | 3.44 | 1.82% |
| Price | 3.38 | |
| S1 | 3.30 | -2.23% |
| S2 | 3.26 | -3.48% |
| S3 | 3.19 | -5.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 3.64 | 7.69% |
| R1 | 3.48 | 2.96% |
| Price | 3.38 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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