Elliottwave Forecast Blog | Zomedica Corp ($ZOM) Reaching The Blue Box Extreme | Talkmarkets
ElliotWave Forecast
Contributor's Links: Elliottwave Forecast

At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, ... more

Zomedica Corp ($ZOM) Reaching The Blue Box Extreme

Date: Thursday, April 8, 2021 11:38 AM EDT

2020 has brought about a lot of changes in the world.  Pet care has exploded as people have been locked down in their homes looking for company.  Playing off that trend is Zomedica Corp.  As a result, this stock has rallied from a low of 6 cents in November 2020, to a peak of $3.00 on February 11.   What does Zomedica Do?  Lets take a look at their company profile:

"Zomedica is an animal health company focused on meeting the needs of clinical veterinarians in ways that promote both patient and practice health. Our mission is to advance the effectiveness and financial well-being of veterinary practitioners by delivering professionally beneficial diagnostic products and services. 

Our team is comprised of clinical veterinarians, animal health professionals, innovative scientists, and business experts committed to helping practicing veterinarians remember why they chose to care for animals and recapture the joy in their career.

We recognize the emotional rewards that come from working in the animal care industry, the sacrifices made in fulfilling the noble veterinary oath, and the challenges impacting veterinarians’ success."

Their flagship Truforma Platform has recently had its first commercial sale in March 2021.  Lets take a look and see what the chart says about this company.

Zomedica Corp Elliotwave View:

Zomedica

Medium term term view from the all time low in November 2020.  Zomedica is favoured to have 5 swings into the peak into Red I on Feb 11, 2021 @ a high of 3.00.  After that, a very technical correction has taken place. It is favoured that this stock is in the final swings of forming a low at the blue box extreme area.  What is the blue box?  It is an area where algo's are programmed to react for a bounce (if bullish) or profit taking (if bearish).  Consequently, Zomedica has reached the blue box extreme while correcting a bullish impulse off the November 2020 low.  In addition, prices at the 100% blue box top at 1.18, is matching the 61.8 retrace of the whole advance.  As a result, these types of fib confluences can give higher odds to a low to take form.

1 2
View single page >> |
Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.