Zomedica Stock Forecast

Green day on Friday for Zomedica stock after gaining 2.25%
(Updated on May 03, 2024)

ZOM Signals & Forecast

Mostly positive signals in the chart today. The Zomedica 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 $0.139 and $0.137. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 17.38%. 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). Zomedica 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 Zomedica stock

Zomedica finds support from accumulated volume at $0.140 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0118 between high and low, or 8.61%. For the last week, the stock has had daily average volatility of 5.86%.

Our recommended stop-loss: $0.140 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (ZOM) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Zomedica Pharmaceuticals Corp to open at $0.144, and during the day (based on 14 day Average True Range), to move between $0.138 and $0.152, which gives a possible trading interval of +/-$0.0068 (+/-4.68%) up or down from last closing price. If Zomedica Pharmaceuticals Corp takes out the full calculated possible swing range there will be an estimated 9.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.146 (0.48%) than the support at $0.140 (3.58%), 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 Zomedica Pharmaceuticals Corp stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Zomedica stock to perform well in the short-term.

Current score: 3.397 Buy Candidate Unchanged

Predicted Opening Price for Zomedica Pharmaceuticals Corp of Monday, May 6, 2024

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