Zoo Digital Group Stock Forecast
Zoo Digital Group stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 08, 2024)
No changes to the price of Zoo Digital Group stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 0% from a day low at £56.00 to a day high of £56.00. The price has risen in 5 of the last 10 days and is up by 54.48% over the past 2 weeks.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £56.34 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 56.30% during the next 3 months and, with a 90% probability hold a price between £50.30 and £88.05 at the end of this 3-month period.
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ZOO.L Signals & Forecast
The Zoo Digital Group 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 £48.07 and £36.08. 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 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zoo Digital Group stock
On the downside, the stock finds support just below today's level from accumulated volume at £51.50 and £42.50. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at £42.50 may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 9.50%
The Zoo Digital Group stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £54.15 (-3.30%) (This stock has low daily movements and this gives low risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ZOO.L) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Zoo Digital Group to open at £56.00, and during the day (based on 14 day Average True Range), to move between £53.36 and £58.64, which gives a possible trading interval of +/-£2.64 (+/-4.72%) up or down from last closing price. If Zoo Digital Group takes out the full calculated possible swing range there will be an estimated 9.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £51.50, some £4.50 (8.04%) from the current price of £56.00, our system finds the risk reward attractive.
Is Zoo Digital Group stock A Buy?
Zoo Digital Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Zoo Digital Group of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| £56.00 ( 0%) | £56.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZOO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.00 | . | |
| R2 | 56.00 | . | ||
| R1 | 56.00 | . | ||
| Current price: | 56.00 | |||
| Support | S1 | 56.00 | . | |
| S2 | 56.00 | . | ||
| S3 | 56.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 56.00 | |||
| Support | S1 | 51.50 | -8.04% | |
| S2 | 42.50 | -24.11% | ||
| S3 | 0 | . |
FAQ
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