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Stop-loss: $0.90 (-5.20%)
Key Stats
Beta 0.77
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 20 - 80 ]
RSI14 is 65 and the stock is currently not being overbought or oversold

Green day on Friday for Zomedica Pharmaceuticals Corp (Updated on June 11, 2021)


Buy candidate since 2021-06-07 Loss -2.08%

The Zomedica Pharmaceuticals Corp stock price gained 0.78% on the last trading day (Friday, 11th Jun 2021), rising from $0.94 to $0.95. During the day the stock fluctuated 3.39% from a day low at $0.92 to a day high of $0.95. The price has been going up and down for this period, and there has been a 11.77% gain for the last 2 weeks. Volume fell on the last day by -10 million shares and in total, 21 million shares were bought and sold for approximately $20.28 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -50.75% during the next 3 months and, with a 90% probability hold a price between $0.16 and $0.61 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.

Signals & Forecast

Mostly positive signals in the chart today. The Zomedica Pharmaceuticals Corp stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $0.95. On a fall, the stock will find some support from the long-term average at approximately $0.89. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 31.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss

Zomedica Pharmaceuticals Corp finds support from accumulated volume at $0.92 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 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 $0.0312 between high and low, or 3.39%. For the last week, the stock has had a daily average volatility of 7.23%.

Our recommended stop-loss: $0.90 (-5.20%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 20 days ago.)

Is Zomedica Pharmaceuticals Corp stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.810

Predicted Opening Price for Zomedica Pharmaceuticals Corp of Monday, June 14, 2021

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

Fair opening price June 14, 2021 Current price
$0.94 $0.95 (Overvalued)
Buy Candidate Unchanged

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Analyst Ratings

HC Wainwright is very positive about ZOM and gave it a "Buy" rating on November 16, 2020. The price target was changed from $0.50 to $0.30.

Volatility
7.23 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $0.97
Price: $0.95
Support: $0.92

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 0.97 2.52 %
0.96 1.26 %
0.95 0.48 %
Current price: 0.95
Support 0.93 -2.03 %
0.92 -2.81 %
0.91 -4.07 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 1.13 19.37 %
1.10 16.21 %
0.97 2.30 %
Current price 0.95
Support 0.92 -2.49%
0.85 -10.20%
0.85 -10.56%

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