Zomedica Stock Forecast
Red day on Thursday for Zomedica
(Updated on May 09, 2024)
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.60% during the next 3 months and, with a 90% probability hold a price between $0.139 and $0.185 at the end of this 3-month period.
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ZOM Signals & Forecast
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 $0.155 and $0.140. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -5.70%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Zomedica stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.140 and $0.136. 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, Zomedica finds support just below today's level at $0.140. If this is broken, then the next support from accumulated volume will be at $0.136 and $0.130.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0108 between high and low, or 6.88%. For the last week the stock has had daily average volatility of 8.38%.
Our recommended stop-loss: $0.150 (-5.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ZOM) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Zomedica Pharmaceuticals Corp to open at $0.161, and during the day (based on 14 day Average True Range), to move between $0.150 and $0.167, which gives a possible trading interval of +/-$0.0085 (+/-5.34%) up or down from last closing price. If Zomedica Pharmaceuticals Corp takes out the full calculated possible swing range there will be an estimated 10.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.162 (1.95%) than the support at $0.140 (11.89%), 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: 3.105 Buy Candidate Unchanged
Predicted Opening Price for Zomedica Pharmaceuticals Corp of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
$0.161 ( 1.43%) | $0.159 |
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 | 0.172 | 8.22 % | |
R2 | 0.168 | 5.63 % | ||
R1 | 0.165 | 4.02 % | ||
Current price: | 0.159 | |||
Support | S1 | 0.157 | -1.17 % | |
S2 | 0.154 | -2.77 % | ||
S3 | 0.150 | -5.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.169 | 6.04 % | |
R2 | 0.164 | 2.96 % | ||
R1 | 0.162 | 1.95 % | ||
Current price | 0.159 | |||
Support | S1 | 0.140 | -11.89% | |
S2 | 0.136 | -14.16% | ||
S3 | 0.130 | -18.06% |
FAQ
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