ZYNE - Zynerba Pharmaceuticals Fri 24'th Feb 2017
Stock analysis for Fri 24'th Feb 2017 (Updated daily)
Hold candidate since 2017-02-24
Zynerba Pharmaceuticals Stock Analysis
Zynerba Pharmaceuticals fell by -0.36% in the last day, from USD 22.10 to USD 22.02. The price has risen in 7 of the last 10 days days and is up by 14.99% over the past 2 weeks. Volume increased in the last day by 488 262 shares, but on falling prices. This is may be an early warning and risk is increased slightly for the next couple of days. In total, 869 862 shares bought and sold for approximately USD 19.15 million.
Zynerba Pharmaceuticals lies in the middle of a very 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 49.3% during the next 3 months and, with 90% probability hold a price between USD 29.21 and USD 39.04 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday February 23, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Zynerba Pharmaceuticals holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 22.04. On a fall, the stock will find some support from the long-term average at approximately USD 19.50. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 76 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Zynerba Pharmaceuticals finds support from accumulated volume at USD 21.23, USD 18.11, and USD 18.03. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 22.46, USD 22.64 and USD 23.00.
The stock is about to test the resistance from accumulated volume at USD 22.46 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 1.64 between high and low, or 7.50%. For the last week, the stock has had a daily average volatility of 8.10%.
Our recommended stoploss: USD 21.45 (-2.59%) ( criteria: risk and position in trend)
Zynerba Pharmaceuticals holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend a hold or accumulate position awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.