Zelda Therapeutics Limited Stock Forecast
Volatile ride for Zelda Therapeutics Limited stock price on Tuesday moving between $0.320 and $0.370
(Updated on Jun 25, 2024)
The Zelda Therapeutics Limited stock price fell by -13.51% on the last day (Tuesday, 25th Jun 2024) from $0.370 to $0.320. During the last trading day the stock fluctuated 15.63% from a day low at $0.320 to a day high of $0.370. The price has fallen in 5 of the last 10 days and is down by -28.89% for this period. Volume has increased on the last day by 3 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, 4 thousand shares were bought and sold for approximately $1.16 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 $0.306 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -50.89% during the next 3 months and, with a 90% probability hold a price between $0.150 and $0.193 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
There are few to no technical positive signals at the moment. 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 $0.376 and $0.480. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -36.00%. 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). Zelda Therapeutics Limited 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 Zelda Therapeutics Limited 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0500 between high and low, or 15.63%. For the last week, the stock has had daily average volatility of 5.58%.
Zelda Therapeutics Limited is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
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 Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Zelda Therapeutics Limited to open at $0.337, and during the day (based on 14 day Average True Range), to move between $0.299 and $0.341, which gives a possible trading interval of +/-$0.0211 (+/-6.60%) up or down from last closing price. If Zelda Therapeutics Limited takes out the full calculated possible swing range there will be an estimated 13.19% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.365, some $0.0450 (14.06%) from the current price of $0.320, our system finds the risk reward not very attractive.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.586 Strong Sell Candidate Downgraded
Predicted Opening Price for Zelda Therapeutics Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.337 ( 5.21%) | $0.320 |
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 | |
|---|---|---|
| R3 | 0.387 | 20.83% |
| R2 | 0.368 | 14.86% |
| R1 | 0.356 | 11.18% |
| Price | 0.320 | |
| S1 | 0.318 | -0.760% |
| S2 | 0.306 | -4.45% |
| S3 | 0.287 | -10.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.395 | 23.44% |
| R2 | 0.370 | 15.63% |
| R1 | 0.365 | 14.06% |
| Price | 0.320 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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