Previous Hold Today ZIOC.L ranks #1279 as HOLD CANDIDATE. Next Hold
Today ZIOC.L ranks #1279 as HOLD CANDIDATE.

ZIOC.L stock Zanaga Iron Ore Company Limited

ZIOC.L stock
Zanaga Iron Ore Company Limited

Tue 11'th Dec 2018

PERIOD 2018-09-12 - 2018-12-11
CHANGE 3.15%
VOLUME
Buy
TREND
Sell

MV LONG
Sell

MV SHORT
Sell

PIVOT
Buy

MACD
Sell
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Zanaga Iron Ore Company Limited Stock Analysis

Technical stock analysis for Tue 11'th Dec 2018

Hold candidate since 2018-12-11

Zanaga Iron Ore Company Limited gained 3.15% in the last trading day, rising from £11.13 to £11.48 The price has risen in 5 of the last 10 days , but is still down by -0.22% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.92 million more shares were traded than the day before. In total, 1.90 million shares bought and sold for approximately £21.77 million.

Trend

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 -29.01% during the next 3 months and, with 90% probability hold a price between £6.04 and £8.82 at the end of this period.

Click here for today's Top 5 Trending Companies

Signals

A buy signal was issued from a pivot bottom point on Monday December 10, 2018, 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 £11.49 and £11.96. A break-up above any of these levels will issue buy signals.

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A sell signal from a double bottom formation was found on Wednesday December 05, 2018 with a target of £11.55. Despite the objective of the signal formation has been reached the stock may continue to fall.

Relative Strength Index (RSI)

RSI14 is 38 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Zanaga Iron Ore Company Limited finds support from accumulated volume at £11.25.

Support: £11.25 Price: £11.48 Resistance: £12.43

Risk

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 £0.70 between high and low, or 6.54%. For the last week, the stock has had a daily average volatility of 3.76%.

Our recommended stoploss: £10.83 (-5.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Zanaga Iron Ore Company Limited holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Hold/Accumulate.

Previous Hold Today ZIOC.L ranks #1279 as HOLD CANDIDATE. Next Hold
Today ZIOC.L ranks #1279 as HOLD CANDIDATE.

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