AEterna Zentaris Inc. Stock Forecast
AEterna Zentaris Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The AEterna Zentaris Inc. stock price gained 4.00% on the last trading day (Wednesday, 27th Mar 2024), rising from $2.00 to $2.08. During the last trading day the stock fluctuated 6.60% from a day low at $1.97 to a day high of $2.10. The price has been going up and down for this period, and there has been a 1.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $47.73 thousand.
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 2.60% during the next 3 months and, with a 90% probability hold a price between $1.77 and $2.31 at the end of this 3-month period.
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AEZS Signals & Forecast
Mostly positive signals in the chart today. The AEterna Zentaris Inc. 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 $2.04 and $1.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 5.58%. 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). AEterna Zentaris Inc. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for AEterna Zentaris Inc. stock
AEterna Zentaris Inc. finds support from accumulated volume at $2.04 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 $0.130 between high and low, or 6.60%. For the last week, the stock has had daily average volatility of 6.19%.
Our recommended stop-loss: $2.00 (-3.97%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (AEZS) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect AEterna Zentaris Inc. to open at $2.05, and during the day (based on 14 day Average True Range), to move between $1.94 and $2.22, which gives a possible trading interval of +/-$0.136 (+/-6.54%) up or down from last closing price. If AEterna Zentaris Inc. takes out the full calculated possible swing range there will be an estimated 13.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.04 (1.92%) than the resistance at $2.17 (4.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AEterna Zentaris Inc. 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 AEterna Zentaris Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.512 Buy Candidate Upgraded
Predicted Opening Price for AEterna Zentaris Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$2.05 ( 1.44%) | $2.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AEZS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.18 | 4.81 % | |
R2 | 2.13 | 2.42 % | ||
R1 | 2.10 | 0.95 % | ||
Current price: | 2.08 | |||
Support | S1 | 2.00 | -3.83 % | |
S2 | 1.97 | -5.30 % | ||
S3 | 1.92 | -7.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.20 | 5.77 % | |
R2 | 2.18 | 4.81 % | ||
R1 | 2.17 | 4.33 % | ||
Current price | 2.08 | |||
Support | S1 | 2.04 | -1.92% | |
S2 | 1.93 | -7.21% | ||
S3 | 1.89 | -9.13% |
FAQ
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