ZYNE - Zynerba Pharmaceuticals

Industry: Drugs - Generic Sector: Healthcare | Exchange: NASDAQ
#2147/#4940

Buy Candidate
Wed 20'th Sep 2017

PERIOD COVERED 2017-06-21 - 2017-09-20
CHANGE 1.27%
PRICE $6.38
VOLUME
Buy
TREND
Sell

MV LONG
Sell

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

BOLLINGER
Buy
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Zynerba Pharmaceuticals Stock Analysis

Technical stock analysis for Wed 20'th Sep 2017

Buy candidate since 2017-09-19 Gain 1.27%

Zynerba Pharmaceuticals gained 1.27% in the last trading day, rising from $6.30 to $6.38 The price has been going up and down for this period, and there has been a 0.16% gain 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, 69 450 more shares were traded than the day before. In total, 288 684 shares bought and sold for approximately $1.84 million.

Trend

Zynerba Pharmaceuticals lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.01 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -71.33% during the next 3 months and, with 90% probability hold a price between $-0.58 and $2.01 at the end of this period.

Signals

A buy signal was issued from a pivot bottom point on Tuesday September 19, 2017, 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. Zynerba Pharmaceuticals holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $7.04. On a fall, the stock will find some support from the short-term average at $6.31. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.

A buy signal from a double bottom formation was found on Wednesday September 13, 2017 with a target of $6.30. Despite the objective of the signal formation has been reached the stock may continue to perform well.

Relative Strength Index (RSI)

RSI14 is 54 and the stock is currently not being overbought or oversold

Support & Resistance

Zynerba Pharmaceuticals finds support from accumulated volume at $6.36. On the upside the stock meets some resistance just above today's level from accumulated volume at $6.42, $6.67 and $7.60.

The stock is about to test the resistance from accumulated volume at $6.42 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $6.36 Price: $6.38 Resistance: $6.42
S: $6.36 Price: $6.38 R: $6.42

Risk

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 $0.28 (4.52%) between high and low. For the last week, the stock has had a daily average volatility of 4.53%.

Our recommended stoploss: $6.01 (-5.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

Several short-term signals are positive, despite the stock being in a falling trend, we 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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.

Buy Candidate

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