Zanaga Iron Ore Company Limited Forecast and Stock Analysis
Technical ZIOC.L stock analysis for February 18, 2019.
Zanaga Iron Ore Company Limited gained 2.15% in the last trading day, rising from £9.78 to £9.99 The price has been going up and down for this period, and there has been a -7.12% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 973 093 more shares were traded than the day before. In total, 973 093 shares bought and sold for approximately £9.72 million.
Close price at the end of the last trading day (Monday, 18th Feb 2019) of the ZIOC.L stock was £9.99. This is 2.15% more than the trading day before Friday, 15th Feb 2019.
During day the stock fluctuated 7.47% from a day low at £8.84 to a day high of £9.50.
30 day high of the ZIOC.L stock price was £12.80 and low was £8.84.
90 day high was £13.50 and low was £8.84.
52 week high for the Zanaga Iron Ore Company Limited - £26.00 and low - £8.84.
Zanaga Iron Ore Company Limited 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 -14.06% during the next 3 months and, with 90% probability hold a price between £8.05 and £10.17 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Zanaga Iron Ore Company Limited holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at £10.23 and £10.89. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 35 and the stock is currently not being overbought or oversold
Support & Resistance
Zanaga Iron Ore Company Limited finds support from accumulated volume at £9.78.
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 £0.66 between high and low, or 7.47%. For the last week, the stock has had a daily average volatility of 1.69%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Zanaga Iron Ore Company Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.