Zelda Therapeutics Limited Stock Forecast
Zelda Therapeutics Limited stock price ended at $0.480 on Friday, after losing 4.00%.
(Updated on May 24, 2024)
The Zelda Therapeutics Limited stock price fell by -4.00% on the last day (Friday, 24th May 2024) from $0.500 to $0.480. During the last trading day the stock fluctuated 8.33% from a day low at $0.480 to a day high of $0.520. The price has fallen in 6 of the last 10 days and is down by -28.36% 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 -1 thousand shares and in total, 11 thousand shares were bought and sold for approximately $5.04 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.451 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -28.86% during the next 3 months and, with a 90% probability hold a price between $0.321 and $0.463 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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ZLD.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 4.35%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zelda Therapeutics Limited 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 $0.484 and $0.642. A break-up above any of these levels will issue buy signals. 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 Zelda Therapeutics Limited stock
Zelda Therapeutics Limited finds support from accumulated volume at $0.460 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0400 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 5.58%.
Zelda Therapeutics Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZLD.AX) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Zelda Therapeutics Limited to open at $0.493, and during the day (based on 14 day Average True Range), to move between $0.451 and $0.509, which gives a possible trading interval of +/-$0.0286 (+/-5.95%) up or down from last closing price. If Zelda Therapeutics Limited takes out the full calculated possible swing range there will be an estimated 11.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.490 (2.08%) than the support at $0.460 (4.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Zelda Therapeutics Limited stock A Buy?
Zelda Therapeutics Limited 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: -3.426 Sell Candidate Unchanged
Predicted Opening Price for Zelda Therapeutics Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $0.493 ( 2.78%) | $0.480 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZLD.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.533 | 11.11 % | |
| R2 | 0.518 | 7.93 % | ||
| R1 | 0.509 | 5.96 % | ||
| Current price: | 0.480 | |||
| Support | S1 | 0.478 | -0.406 % | |
| S2 | 0.469 | -2.37 % | ||
| S3 | 0.453 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.520 | 8.33 % | |
| R2 | 0.500 | 4.17 % | ||
| R1 | 0.490 | 2.08 % | ||
| Current price | 0.480 | |||
| Support | S1 | 0.460 | -4.17% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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