Zealand Pharma Stock Analysis
Technical stock analysis for 18 January 2019
Zealand Pharma gained 6.41% in the last trading day, rising from $14.04 to $14.94 The price has risen in 7 of the last 10 days and is up by 13.18% over the past 2 weeks. Volume fell in the last day by -2 678 shares, and in total, 692 shares bought and sold for approximately $10 338.50. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the ZEAL stock was $14.94. This is 6.41% more than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 1.91% from a day low at $14.66 to a day high of $14.94.
30 day high of the ZEAL stock price was $14.94 and low was $11.56.
90 day high was $14.94 and low was $11.51.
52 week high for the Zealand Pharma - $18.91 and low - $11.51.
Zealand Pharma has broken the wide and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $14.70, a level that may pose a second chance to hit a runner. According to fan-theory $17.55 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Zealand Pharma holds buy signals from both short- and long-term moving averages. In addition, 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 $14.14 and $13.09. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 15, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 67 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 $12.75 and $12.73.
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, Zealand Pharma finds support just below today's level at $12.75. If this is broken, then the next support from accumulated volume will be at $12.73 and $11.51.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.28 between high and low, or 1.91%. For the last week the stock has had a daily average volatility of 3.52%.
Our recommended stoploss: $14.34 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
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Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rising rate. We can conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term period. Due to a possible false trend-break a pure Buy Recommendation is held back.
|ZEAL $14.94 $0.90(6.41%)|
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