Zambeef Products Stock Forecast
Green day on Monday for Zambeef Products stock after gaining 3.45%
(Updated on Apr 22, 2024)
The Zambeef Products stock price gained 3.45% on the last trading day (Monday, 22nd Apr 2024), rising from £5.80 to £6.00. During the last trading day the stock fluctuated 0% from a day low at £6.00 to a day high of £6.00. The price has risen in 4 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately £203.93 thousand.
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 £6.02 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 £6.05 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £5.80 and £5.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.35%. 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). Zambeef Products 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. Higher liquidity also reduces the general risk.
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 (0%) between high and low. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: £5.74 (-4.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ZAM.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Zambeef Products to open at £6.00, and during the day (based on 14 day Average True Range), to move between £5.78 and £6.22, which gives a possible trading interval of +/-£0.219 (+/-3.64%) up or down from last closing price. If Zambeef Products takes out the full calculated possible swing range there will be an estimated 7.28% 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 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Zambeef Products of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £6.00 ( 0%) | £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 | 6.00 | . | |
| R2 | 6.00 | . | ||
| R1 | 6.00 | . | ||
| Current price: | 6.00 | |||
| Support | S1 | 6.00 | . | |
| S2 | 6.00 | . | ||
| S3 | 6.00 | . |
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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