Zealand Pharma A/S Stock Forecast

On Tuesday, Zealand Pharma A/S stock price gained an impressive 7.16%
(Updated on Jun 25, 2024)

ZLDPF Signals & Forecast

Mostly positive signals in the chart today. The Zealand Pharma A/S 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 $104.71 and $93.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 56.38%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Zealand Pharma A/S has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Zealand Pharma A/S stock

On the downside, the stock finds support just below today's level from accumulated volume at $100.00 and $99.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zealand Pharma A/S finds support just below today's level at $100.00. If this is broken, then the next support from accumulated volume will be at $99.48 and $98.86.

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 $3.32 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 3.13%.

The Zealand Pharma A/S stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $122.56 (-3.08%) (This stock has high daily movements and this gives high risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 73 days ago.)

Trading Expectations (ZLDPF) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Zealand Pharma A/S to open at $126.78, and during the day (based on 14 day Average True Range), to move between $122.86 and $130.04, which gives a possible trading interval of +/-$3.59 (+/-2.84%) up or down from last closing price. If Zealand Pharma A/S takes out the full calculated possible swing range there will be an estimated 5.68% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $100.00, some $26.45 (20.92%) from the current price of $126.45, our system finds the risk reward attractive.

Is Zealand Pharma A/S stock A Buy?

Zealand Pharma A/S holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 7.781 Strong Buy Candidate Upgraded

Predicted Opening Price for Zealand Pharma A/S of Wednesday, June 26, 2024

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