Zimmer Biomet Holdings Stock Forecast
Weaker technical forecast for Zimmer Biomet Holdings as stock downgraded to Hold/Accumulate.
(Updated on Mar 27, 2024)
The Zimmer Biomet Holdings stock price gained 3.71% on the last trading day (Wednesday, 27th Mar 2024), rising from $127.87 to $132.61. During the last trading day the stock fluctuated 3.21% from a day low at $128.51 to a day high of $132.63. The price has risen in 6 of the last 10 days and is up by 4.76% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 782 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $225.66 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $131.82, a level that may pose a second chance to hit a runner. According to fan-theory $138.47 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ZBH Signals & Forecast
The Zimmer Biomet Holdings 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 $127.98 and $126.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 01, 2024, and so far it has risen 6.93%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Zimmer Biomet Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $123.04 and $122.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zimmer Biomet Holdings finds support just below today's level at $123.04. If this is broken, then the next support from accumulated volume will be at $122.80 and $121.87.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.12 between high and low, or 3.21%. For the last week the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: $125.55 (-5.32%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (ZBH) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Zimmer Biomet Holdings to open at $131.25, and during the day (based on 14 day Average True Range), to move between $130.55 and $134.67, which gives a possible trading interval of +/-$2.06 (+/-1.55%) up or down from last closing price. If Zimmer Biomet Holdings takes out the full calculated possible swing range there will be an estimated 3.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $123.04, some $9.57 (7.22%) from the current price of $132.61, our system finds the risk reward attractive.
Is Zimmer Biomet Holdings stock A Buy?
Zimmer Biomet Holdings 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 Zimmer Biomet Holdings of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$131.25 ( 1.03%) | $132.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZBH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 135.37 | 2.08 % | |
R2 | 133.80 | 0.89 % | ||
R1 | 132.82 | 0.161 % | ||
Current price: | 132.61 | |||
Support | S1 | 129.68 | -2.21 % | |
S2 | 128.70 | -2.95 % | ||
S3 | 127.13 | -4.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 132.61 | |||
Support | S1 | 123.04 | -7.22% | |
S2 | 122.80 | -7.40% | ||
S3 | 121.87 | -8.10% |
ZBH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 27, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.240 | 0.181% |
2 | Dec 14, 2023 | Dec 26, 2023 | Jan 31, 2024 | $0.240 | 0.191% |
3 | Aug 25, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.240 | 0.230% |
4 | May 15, 2023 | Jun 26, 2023 | Jul 31, 2023 | $0.240 | 0.174% |
5 | May 15, 2023 | Jun 23, 2023 | Jul 31, 2023 | $0.240 | 0.174% |
FAQ
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