Zynex Inc Stock Forecast
Zynex Inc stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Zynex Inc stock price fell by -4.68% on the last day (Friday, 3rd May 2024) from $11.54 to $11.00. During the last trading day the stock fluctuated 7.42% from a day low at $10.99 to a day high of $11.81. The price has fallen in 6 of the last 10 days and is down by -3.34% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 thousand shares and in total, 99 thousand shares were bought and sold for approximately $1.09 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.80 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.93% during the next 3 months and, with a 90% probability hold a price between $9.73 and $11.42 at the end of this 3-month period.
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ZYXI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.548%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zynex Inc 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 $11.27 and $12.03. 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 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 Zynex Inc stock
Zynex Inc finds support from accumulated volume at $10.97 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 $0.82 between high and low, or 7.42%. For the last week the stock has had daily average volatility of 5.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZYXI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Zynex Inc to open at $11.27, and during the day (based on 14 day Average True Range), to move between $10.53 and $11.47, which gives a possible trading interval of +/-$0.465 (+/-4.23%) up or down from last closing price. If Zynex Inc takes out the full calculated possible swing range there will be an estimated 8.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.97 (0.27%) than the resistance at $12.24 (11.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zynex Inc stock A Buy?
Zynex Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.302 Sell Candidate Downgraded
Predicted Opening Price for Zynex Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.27 ( 2.41%) | $11.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZYXI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.08 | 9.82 % | |
| R2 | 11.77 | 6.99 % | ||
| R1 | 11.58 | 5.24 % | ||
| Current price: | 11.00 | |||
| Support | S1 | 10.95 | -0.421 % | |
| S2 | 10.76 | -2.17 % | ||
| S3 | 10.45 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.55 | 14.09 % | |
| R2 | 12.30 | 11.82 % | ||
| R1 | 12.24 | 11.27 % | ||
| Current price | 11.00 | |||
| Support | S1 | 10.97 | -0.273% | |
| S2 | 10.94 | -0.545% | ||
| S3 | 0 | . |
ZYXI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 10, 2021 | Jan 05, 2022 | Jan 21, 2022 | $0.100 | 1.23% |
| 2 | Nov 06, 2018 | Dec 31, 2018 | Jan 18, 2019 | $0.0636 | 2.12% |
| 3 | Jun 17, 2014 | Jun 17, 2014 | Jun 17, 2014 | $0.136 | 43.44% |
FAQ
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