Zoono Group Limited Stock Forecast

Big movements in Zoono Group Limited stock price on Friday moving 14.81% between high and low
(Updated on May 10, 2024)

ZNO.AX Signals & Forecast

There are mixed signals in the stock today. The Zoono Group Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0699. On a fall, the stock will find some support from the short-term average at $0.0303. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -75.20%. Further fall is indicated until a new bottom pivot has been found. Zoono Group 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Zoono Group Limited stock

Zoono Group Limited finds support from accumulated volume at $0.0300 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0040 between high and low, or 14.81%. For the last week, the stock has had daily average volatility of 10.64%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ZNO.AX) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Zoono Group Limited to open at $0.0297, and during the day (based on 14 day Average True Range), to move between $0.0236 and $0.0384, which gives a possible trading interval of +/-$0.0074 (+/-23.88%) up or down from last closing price. If Zoono Group Limited takes out the full calculated possible swing range there will be an estimated 47.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0320 (3.23%) than the support at $0.0300 (3.23%), 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 Zoono Group Limited stock A Buy?

Zoono Group Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -4.028 Sell Candidate Unchanged

Predicted Opening Price for Zoono Group Limited of Monday, May 13, 2024

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