ZYNE - Zynerba Pharmaceuticals

Industry: Drugs - Generic Sector: Healthcare

Hold/Accumulate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
-1.15%
PRICE
$18.06
VOLUME
Buy
TREND
Sell
MV LONG
Sell
MV SHORT
Sell
PIVOT
Buy
MACD
Buy
Request Prediction
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Zynerba Pharmaceuticals Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Hold candidate since 2017-05-22 Loss -1.15%

Zynerba Pharmaceuticals fell by -1.15% in the last day, from USD 18.27 to USD 18.06 The price has risen in 6 of the last 10 days , but is still down by -1.69% for this period. Volume has increased in the last day by 2 408 shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 244 882 shares bought and sold for approximately USD 4.42 million.

Trend

Zynerba Pharmaceuticals lies in the lower of a very wide and weak falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 17.63 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.9% during the next 3 months and, with 90% probability hold a price between USD 16.59 and USD 23.06 at the end of this period.

Signals

A buy signal was issued from a pivot bottom point on Tuesday May 09, 2017, 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. Zynerba Pharmaceuticals 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 USD 18.61 and USD 21.12. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Relative Strength Index (RSI)

RSI14 is 34 and the stock is currently not being overbought or oversold

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance from accumulated volume at USD 20.02, USD 22.02 and USD 18.37.

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 USD 0.61 between high and low, or 3.45%. For the last week, the stock has had a daily average volatility of 6.71%.

Our recommended stoploss: USD 16.85 (-6.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 10 days ago.)

Evaluation

Zynerba Pharmaceuticals 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.

Hold/Accumulate

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