ZRX.X in downward trend: price dove below 50-day moving average on August 26, 2024
ZRX.X moved below its 50-day moving average on August 26, 2024 date and that indicates a change from an upward trend to a downward trend. In 45 of 60 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are 75%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 54 of 80 cases where ZRX.X's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 68%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ZRX.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 59%.
ZRX.X broke above its upper Bollinger Band on August 21, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for ZRX.X entered a downward trend on September 13, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
$ZRX
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