Zeus Resources Ltd Stock Forecast

Red day on Thursday for Zeus Resources Ltd
(Updated on Jul 04, 2024)

ZEU.AX Signals & Forecast

The Zeus Resources Ltd 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 A$0.0090 and A$0.0090. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, July 03, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should fall by -3.70% to A$0.0087 within 3 trading days (Friday, May 03, 2024) since signal was issued.

Support, Risk & Stop-loss for Zeus Resources Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at A$0.0080 and A$0.0070. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at A$0.0070 may give a huge drop in the stock price.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved A$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: A$0.0086 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ZEU.AX) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Zeus Resources Ltd to open at A$0.0090, and during the day (based on 14 day Average True Range), to move between A$0.0088 and A$0.0092, which gives a possible trading interval of +/-A$0.0002 (+/-1.76%) up or down from last closing price. If Zeus Resources Ltd takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$0.0080 (11.11%) than the resistance at A$0.0100 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Zeus Resources Ltd stock A Buy?

Zeus Resources Ltd 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 Zeus Resources Ltd of Friday, July 5, 2024

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