Wed 20'th Sep 2017
Zynerba Pharmaceuticals Stock Analysis
Technical stock analysis for Wed 20'th Sep 2017
Buy candidate since 2017-09-19 Gain 1.27%
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.
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.
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.
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.)
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.
Trade ZYNE CFDs with Plus500
Your capital is at risk.
Important: Plus500 doesn't offer signals and it is a CFD service. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).