Zedge Inc. Class B Forecast and Stock Analysis
Technical ZDGE stock analysis for February 15, 2019.
|Shorts||3.64% ( 2019-01-31 )|
Zedge Inc. Class B gained 7.03% in the last trading day, rising from $1.85 to $1.98 The price has risen in 5 of the last 10 days and is up by 6.45% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 11 180 more shares were traded than the day before. In total, 11 180 shares bought and sold for approximately $22 136.40.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ZDGE stock was $1.98. This is 7.03% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 18.50% from a day low at $1.73 to a day high of $2.05.
30 day high of the ZDGE stock price was $2.60 and low was $1.70.
90 day high was $3.65 and low was $1.70.
52 week high for the Zedge Inc. Class B - $4.34 and low - $1.64.
Zedge Inc. Class B lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -30.51% during the next 3 months and, with 90% probability hold a price between $0.98 and $1.84 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday February 11, 2019, which indicates further gains until a new top pivot has been found. Zedge Inc. Class B has rising volume and follows the last lift in the price. This 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Zedge Inc. Class B holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $2.20. On a fall, the stock will find some support from the short-term average at $1.85. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.86 and $1.85.
There is 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, Zedge Inc. Class B finds support just below today's level at $1.86. If this is broken, then the next support from accumulated volume will be at $1.85 and $1.75.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.32 between high and low, or 18.50%. For the last week, the stock has had a daily average volatility of 12.29%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Evaluation: Sell Candidate
Zedge Inc. Class B 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.