Zambeef Products Stock Forecast
Zambeef Products stock downgraded to Sell Candidate
(Updated on Apr 23, 2024)
No changes to the price of Zambeef Products stock on the last trading day (Tuesday, 23rd Apr 2024). During the last trading day the stock fluctuated 9.64% from a day low at £5.47 to a day high of £6.00. The price has risen in 4 of the last 10 days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at £6.03 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Zambeef Products stock with a 90% probability to be traded between £5.53 and £6.07 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ZAM.L Signals & Forecast
The Zambeef Products 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 £5.87 and £5.85. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Monday, April 22, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zambeef Products stock
Zambeef Products finds support from accumulated volume at £5.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £0.528 (9.64%) between high and low. For the last week, the stock has had daily average volatility of 4.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZAM.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Zambeef Products to open at £5.82, and during the day (based on 14 day Average True Range), to move between £5.76 and £6.24, which gives a possible trading interval of +/-£0.241 (+/-4.02%) up or down from last closing price. If Zambeef Products takes out the full calculated possible swing range there will be an estimated 8.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £5.98, some £0.0250 (0.42%) from the current price of £6.00, our system finds the risk reward attractive.
Is Zambeef Products stock A Buy?
Zambeef Products holds several negative signals and we believe that 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: -1.182 Sell Candidate Downgraded
Predicted Opening Price for Zambeef Products of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £5.82 ( 2.93%) | £6.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZAM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.35 | 5.86 % | |
| R2 | 6.15 | 2.50 % | ||
| R1 | 6.03 | 0.428 % | ||
| Current price: | 6.00 | |||
| Support | S1 | 5.62 | -6.29 % | |
| S2 | 5.50 | -8.36 % | ||
| S3 | 5.30 | -11.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 6.00 | |||
| Support | S1 | 5.98 | -0.417% | |
| S2 | 5.80 | -3.33% | ||
| S3 | 5.75 | -4.17% |
ZAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2011 | Dec 22, 2011 | Dec 22, 2011 | £0.450 | 0.93% |
| 2 | Dec 21, 2011 | Dec 21, 2011 | Dec 21, 2011 | £2,140.00 | 4,412.37% |
FAQ
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