ZOM trade ideas
Zomedica - ZOM - Stop Playing with me? You talking about ZOM?Zomedica - ZOM - Stop Playing with me? You talking about ZOM? Yes ZOM. ZOM is holding support at 70 cents. This could repeat the past - Patience will be key - No one knows - We will see?
ZomZom struggling with that 0.85 resistance. Will be buying 5k at a sucessfull break above 0.86 with a target at 1.02 and 1.30. I think zom has support at 0.72 anything below would be very bad.
ZOM ReversalPrice made a double bottom at .72 and is currently well bellow the YTD POC line (.958). The RSI is in oversold territory and the MACD crossed on 4/26.
In addition the price is hovering at the 200 SMA and appears to be a low risk entry for a long position.
I would like to see it close above the 200 sma to but in.
Target: .96, 1.29, 1.40, 1.81
Why I think $ZOM is primed for a popA lot of people have dismissed ZOM as just another ‘Reddit runner’ or a ‘meme’ stock. However, the truth couldn’t be further.
The technology that the company is developing, is new in the veterinary world. Moreover, the company has raised cash investments and not just that but many institutional organizations are holding with an average above 1.5.
As the chart shows, there looks to be strong support, and it looks to me that the accumulation phase and public participation phase will soon begin (we’re in the early stages of that) after which around 0.95, we should see a pop.
The one concern I have about this stock is the news around it. Nothing about the company per se, but just frustrated youtubers and bag holders spreading negative sentiment.
AMEX:ZOM
$ZOM Bullish Heavily shorted and undervalued$ZOM right now is selling for around 0.90 a share and I believe it has potential to go to its former value back in february once again or even to higher heights it is shorted heavily at a Short Interest ratio of around 38%.
ZOM: Top or 1st motive wave cycle?Been hodling ZOM since Jan. I'm looking at the price action as a potential large degree flat to continue up. We might be stuck in limbo for the next month or so. If I see some bullish action around $1.33 - 61.8% retrace, I will be looking to add to the position. This might be considered a "hype" or "meme" stock, but I think they might be on the verge of something incredible for the vet sector.
What do you all think off ZOM? Something here, or damned to $0?
Broke up. Bullish pattern started.ZOM has broken upward from the XABC pattern. I am looking at a FIB resistance at 1.22. It sprung up to 1.34 pre market which is great. I am going to watching this carefully as I had trailing stops at .03 increments pre market and did well. Slightly better than expected.
Reentered at 1.09 and working the same trailing stop of .03. This will either stop me out and then allow me to add to an even larger position at a lower price or keep profits as it rises. Then reenter. Only people who have time to do this strategy and stay at a computer should try this because you have to watch the price or be able to react to your sales with limit buys etc.
If you don't have the time for trailing stops. The long, again, is 1.22 resistance. Once broken that must be used as support in this volatile stock.
Cheers!! Not financial advice. Just an educated opinion.
Confirmed CAHOLD | Daily | Swing |Initial entry was considered with RSI and Bottom last week but have decided to set a price entry price target of 0.94 Monday after CAHOLD was confirmed on Fridays close.
Profit targets are set just below the PC from previous Tops
ZOM hits lows and bounces back hardI will admit if a trade doesn't come to what I think it will do I'll say im wrong, but that's the beauty of tradingview and how we can share ideas. I still remain skeptical of the current price action and have give a range of price movement of the current price. As a trader watching on the sidelines I still believe for a new/long term trade is wait till earnings. This movement up is unknown why its pumping but a few reasons may be the cause
Why is this pumping?
-Whole market is recovering at this time and biotech/pennystocks are feeling some love which were one of the worst hit sectors.
-Past buyers bought the dip and has had an amazing bounce back, which I will talk about in the TA portion.
-The sentiment around ZOM was negative people panic sold from $1.15 too .73, which caused the sellers to be exhausted. With no more sellers the price rebounded and fomo struck.
TA: Its interesting cause the chart goes aganist the news, so an idea of this is a short squeeze to exit positions. Who knows
-April 22, we skyrocketed towards the 50ema and held causing a bullish reversal in the RSI as it held
-RSI leads bullish with the current movement of the stock
-Resistance is at 1.41, but could say its at 1.18 with past high or go off the emas, which is at 1.13 and 1.29
-Support would be at the 50 ema .97/.96 or slightly before at 1.01 which could be a dip opportunity.
-If the trade goes south you could experience a 29%-74% lost with an upside of 124% going back to ath
Final thoughts
I'll remain skeptical of this pump till er, since again it could be a pump to have people fomo and sell into the buyers or just exhaustion from the months of downward movement. With TA however it remains bullish/neutral
$ZOM Target PTs 2-2.50Zomedica Corp., a development stage veterinary diagnostic and pharmaceutical company, engages in the discovery, development, and commercialization of pharmaceuticals for the companion pet. Its lead drug product candidate is ZM-007, an oral suspension formulation of metronidazole for the treatment of acute diarrhea in small dog breeds and puppies. The company is also developing ZM-012, a tablet formulation of metronidazole targeting the treatment of acute diarrhea in dogs; ZM-006, a transdermal gel formulation of methimazole targeting hyperthyroidism in cats; and ZM-011, a transdermal gel formulation of fluoxetine for the treatment of feline behavioral disorders, such as inappropriate urination. It has a collaboration agreement with Celsee, Inc. for the development and commercialization of liquid biopsy assays and related consumables for the detection of cancer in companion animals; and with Seraph Biosciences, Inc. for development and commercialization of novel pathogen detection system. The company was formerly known as Zomedica Pharmaceuticals Corp. and changed its name to Zomedica Corp. in October 2020. Zomedica Corp. was founded in 2015 and is headquartered in Ann Arbor, Michigan.
ZomedicaDetails in photo!
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$zom the shakeout has been painful.I'm no expert but I'm pretty sure that is a decent falling wedge. Today's candle topped (so far) right at it as well. If this breaks up, it can definitely run. There are a lot of bag holders out there super frustrated and waiting for something to happen.
MACD is still bearish but once that and RSI show some signs of reversal, we might be onto something.
$zom
ZOM a love child to novice investorsZOM is interesting since through out the pandemic, people wanted to find ways to make money at home. That's why we had stories from Hertz, DOGE, GME, AMC, and more, but some of these investors found r/PennyStocks. I could list alot of hot names like NNDM, IDEX, XSPA, and more, but we are here to talk about ZOM yet its good to know what kind of investors are in/attractive to a stock like ZOM. Overall I'm a mid term bear, but you could be neutral.
News: Now I haven't invested a single penny, yet I like seeing a stock that had an mc over 2billion dollars just to come back to pennystock land of the dead
-3 insiders sale publish on Apr 13.
-Apr 15: ZOM releases a Investor news on their website stating their distributor failed to help them gain initial sales, so in return they are going to go with a direct sales approach. Also in the letter they couldn't state when they will be profitable. This is a red flag on multiparts. First: they push their own problems on a distributor and not their product. There still hasn't been any demand from the stock price if their product was successful. Second: Changing gears on how to market their device, since launch and haven't tweeted/remain inactive on social media like twitter since Jan 4th is very concerning on if they are still trying to build this company. Third: Profitability. Again we don't know the demand and we don't know if this new marketing strategy will work. This means the company will continue its cash burn and sale shares or dilute share holders until profitability.
-Earnings are coming up, but it should be clear they will miss
Other News:
-ZOM releases their product early causing the swing traders to be off guard and start the "sale the news"
-Twitter inactive since Jan 4
-Whole market (besides crypto) has been crashing since the start of this year
TA: I know the news section was scary and some things are opinionated, but theres questions that need to be answered
-Downtrend line since March 26, but sale off started on March 16. Leans Bearish
-Resistance is at 1.00130, 1.4166, and then 2.0075. If the downtrend line holds up .9947 is resistance at open. Leans bearish
-EMA continues down with 50 at roughly 1.06. 128 1.36, and 1.49 at the 200. Massive moves are needed, so unlikely to see it hitting there anytime soon. Would need sideways movement or a bounce back.
-Support hits .8367, then a massive drop too 0.4413 since between was a gap up. After that its a drop too 0.2802 another unknownzone, but it lighter note could be a buying opportunity 0.2802-04413. This area would be massive pain since if you bought at ath you would be down over 70% and at 0.2802 its at 89% which is prime for a bounce back. Buying from .5-.28 should only be gamble money.
-MACD leans bearish
-RSI is way oversold with resistance at 51.91
-VPVR levels mean shit atm, but during the rally the last big one I see is at 0.488, so a quick trade from .5 buy in could bounce back to .8-$1 on a trading perspective.
Final thoughts
Now this stock has had major bearish news and the question is will the earnings help or cause more pain. The answer isn't clear cut, cause as an investor or a speculator we don't know the sales and the quick change in direction on sales cause me to believe in the short term and mid bearish perspective. Now if earnings come out and sales are better than suspected then theres no problems, but watch out if the next days after it continues too sale off.
ZOM broken key trend lineHey ZOM fans.
My trailing stop was stopped out at above 90 cents on the short. The 4-hour candle broke the trend line.
This is not a bad thing as a took a position long because the candle close and momentum all went long this afternoon.
As you can see from the 4hr chart it is looking good. The monthly is not as good as there could be a potential downside.
No target price yet. Stop loss in at 1.03. There are some major candles closes on the weekly at the range and I am using this as support which was a prior resistance point.
Cheers!
Breakout?Possible breakout coming.
A retest on support is possible.
Risky swing trade with high reward.
Volume and RSI look good.
IF the 20MA can cross over the 50MA, it increases the likelihood of a bullish push.
First PT of 1.3
DYOR.
Not financial advice.
$ZOM Bounce Out Of $1 Volume Shelf, $2 Bound?Zomedica shares have finally caught up with that previous $1 breakout zone, and they are likely to bounce up strong out of it. We see a break in the resistance and a bounce out of an important volume zone. In addition, it is at the bottom of the RSI and the MACD appears bullish. Good Luck!
