Zomedica Stock Forecast
Zomedica stock price up more than 5.17% on Monday
(Updated on Apr 22, 2024)
The Zomedica stock price gained 5.17% on the last trading day (Monday, 22nd Apr 2024), rising from $0.124 to $0.130. During the last trading day the stock fluctuated 7.76% from a day low at $0.123 to a day high of $0.132. The price has fallen in 8 of the last 10 days and is down by -10.15% for this period. Volume fell on the last day by -3 million shares and in total, 4 million shares were bought and sold for approximately $481.41 thousand. 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 lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.124 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.43% during the next 3 months and, with a 90% probability hold a price between $0.129 and $0.166 at the end of this 3-month period.
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ZOM Signals & Forecast
The Zomedica 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 $0.131 and $0.136. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.17%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Zomedica stock
Zomedica finds support from accumulated volume at $0.125 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0095 between high and low, or 7.76%. For the last week the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: $0.125 (-3.75%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ZOM) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Zomedica Pharmaceuticals Corp to open at $0.128, and during the day (based on 14 day Average True Range), to move between $0.123 and $0.137, which gives a possible trading interval of +/-$0.0069 (+/-5.27%) up or down from last closing price. If Zomedica Pharmaceuticals Corp takes out the full calculated possible swing range there will be an estimated 10.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.125 (3.84%) than the resistance at $0.136 (4.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zomedica Pharmaceuticals Corp stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.484 Buy Candidate Upgraded
Predicted Opening Price for Zomedica Pharmaceuticals Corp of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.128 ( 1.46%) | $0.130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZOM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.138 | 5.84 % | |
| R2 | 0.134 | 3.05 % | ||
| R1 | 0.132 | 1.33 % | ||
| Current price: | 0.130 | |||
| Support | S1 | 0.125 | -4.25 % | |
| S2 | 0.122 | -5.97 % | ||
| S3 | 0.119 | -8.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.155 | 19.14 % | |
| R2 | 0.140 | 7.61 % | ||
| R1 | 0.136 | 4.84 % | ||
| Current price | 0.130 | |||
| Support | S1 | 0.125 | -3.84% | |
| S2 | 0.123 | -5.84% | ||
| S3 | 0.120 | -7.76% |
FAQ
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