Zai Lab Ltd Forecast and Stock Analysis
Technical ZLAB stock analysis for March 19, 2019.
Zai Lab Ltd gained 0.57% in the last trading day, rising from $29.90 to $30.07 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 5.43% 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, 209 432 more shares were traded than the day before. In total, 339 126 shares bought and sold for approximately $10.20 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the ZLAB stock was $30.07. This is 0.57% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 4.98% from a day low at $29.51 to a day high of $30.98.
30 day high of the ZLAB stock price was $30.98 and low was $26.01.
90 day high was $33.86 and low was $20.22.
52 week high for the Zai Lab Ltd - $33.86 and low - $14.29.
Zai Lab Ltd lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 29.28% during the next 3 months and, with 90% probability hold a price between $36.56 and $45.69 at the end of this period.
Only positive signals in the chart today. Zai Lab Ltd 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 $28.83 and $28.53. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday March 08, 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.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Zai Lab Ltd finds support from accumulated volume at $28.82.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.47 (4.98%) between high and low. For the last week, the stock has had a daily average volatility of 3.94%.
Our recommended stoploss: $28.84 (-4.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 7 days ago.)
Very Low Low Medium High Very High
Evaluation: Strong Buy Candidate
Zai Lab Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.