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Best Penny Stocks To Buy Now : Zomedica Stock Price Prediction ( ZOM Stock Analysis ) $ZOM - YouTube
Channel: Money Dad
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what's up everyone brad here with the money聽
dad channel in this video i'm going to go over聽聽
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zomedica pharmaceuticals stock ticker zom聽
this company is an animal health company聽聽
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focused on meeting the needs of clinical聽
veterinarians in ways that promote both聽聽
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patient and practice health and they have been聽
in the news lately especially in the penny stock聽聽
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world because this tart this chart has just been聽
going parabolic it had been dying for a long time聽聽
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i mean dating all the way back to if if we pull聽
this chart out even further look it has come down聽聽
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from uh it was as high as two dollars and thirty聽
cents two dollars and seventy cents back in 2018聽聽
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and it's really been dying and then it just聽
got new life again recently as recently as uh聽聽
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october november of 2020 and the reason for that聽
is they have they've developed this true forma uh聽聽
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machine that uh delivers as they say accurate聽
reliable data when testing for thyroid and adrenal聽聽
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adrenal disease um so and this is apparently this聽
machine just makes it much easier for vets to聽聽
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find and diagnose these diseases right so this is聽
a machine that they would i assume be selling to聽聽
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vet clinics and making a lot of money that way so聽
after this news went public this this stock just聽聽
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started shooting up so where are we at right now聽
with the with the chart well we went from all the聽聽
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way down to six cents back in november up to at聽
the time of this recording a dollar and 11 cents聽聽
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one dollar and 11 cents so it has gone absolutely聽
parabolic that said there are patterns on this聽聽
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chart that look very bullish going forward聽
for this stock i think this stock is going聽聽
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much higher from here i'm going to show聽
you what i mean give you a price target聽聽
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and talk to you about the pattern and all of聽
that in this video so if you've been following聽聽
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this channel for a while you may already see the聽
pattern that i'm about to point out here if not聽聽
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hit that subscribe button i do stock chart聽
pattern analysis on this channel and i give聽聽
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price targets and and predictions on stocks when聽
i see these patterns based off of the projections聽聽
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from the patterns and we've been doing very well聽
uh so far on this channel okay now all that said聽聽
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i'm not a financial advisor so keep that in mind聽
when you are making your investing decisions okay聽聽
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all right let's jump into this pattern on this聽
stock chart now so we've got this huge run up聽聽
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right here this huge run up in price on massive聽
volume right starting in january around around聽聽
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the beginning of the year this this massive run-up聽
and then this consolidation phase which means we聽聽
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just been kind of chopping around sideways in聽
that one dollar range for about two weeks now聽聽
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and that looks to me like it's getting ready聽
for a big push higher and i'm going to show聽聽
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you exactly what i mean so this chart or this聽
pattern is creating what looks to me like a bull聽聽
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pennant or maybe even a bull flag both of which聽
are extremely bullish for this stock and it did it聽聽
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on a volume that worked out perfectly you want聽
to see this big run up right here creating the聽聽
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flagpole of the pattern on big volume which聽
it did so that's perfect and then we have聽聽
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this resistance line right here these聽
three candlesticks touching this line聽聽
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and a breakout above it which is perfect and聽
then let's let's put in our support underneath
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right here we've got these two candlesticks聽
touching this support line which creates our聽聽
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wedge pattern and you now have what's called a聽
bull pennant right you got a flagpole and then a聽聽
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triangle creates a bull pennant pattern and that聽
is very bullish for a stock because it's a it's聽聽
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a continuation pattern this uh shape suggests聽
that we're going to continue whatever direction聽聽
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we were doing before the pattern right so we were聽
going up before the pattern see we were going up聽聽
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into the pattern we have a bull pennant which is聽
a continuation pattern it suggests that the stock聽聽
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is going to continue going up because it was going聽
up before the pattern right so what is even better聽聽
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about this particular pattern right now is we聽
already have a breakout above that resistance聽聽
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right there this is the resistance line this聽
top line of the bull pennant pattern and we have聽聽
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broken out the stock has broken out above that聽
resistance line so that is fantastic that means聽聽
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that we are ready to jump into this trade we have聽
a confirmation that we are about to start heading聽聽
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higher or at least we have a high probability of聽
heading higher right none of this is uh guaranteed聽聽
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this is the stock market there are no guarantees聽
in the stock market but we deal with probabilities聽聽
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here and there is a high probability when we break聽
out to the upside of these bull pennants that we聽聽
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are going to continue much higher based on the聽
size of this bull pennant we can actually target聽聽
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a specific price to the upside based on the size聽
of this ball pennant i'm going to go ahead and聽聽
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do that right now but like i said this is your聽
buy-in opportunity right now basically right聽聽
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before i made this video i purchased 500 shares of聽
this company it's not a lot because it's a it's a聽聽
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penny stock right we're in that one dollar range聽
so 500 shares is only about 500 bucks right now聽聽
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i think it cost me 560 if i remember聽
right so i think i got in at a dollar 11.聽聽
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but with these penny stocks i just want聽
a caveat that these things can swing聽聽
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very hard in either direction so while聽
i do think that this stock is going聽聽
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up very soon i would strongly recommend setting a聽
stop loss on your trade so that if it swings down聽聽
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hard you get stopped out it basically means it聽
just auto sells your position so that you don't聽聽
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lose a ton of money if this stock tanks i strongly聽
recommend doing that okay that is one way to kind聽聽
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of mitigate your risk when you are trading these聽
penny stocks that move with a lot of volatility聽聽
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so let's go ahead and look at that uh price聽
target now so we've got our flagpole right here聽聽
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we've got our pennant so how we get that price聽
target well we take the size of this flagpole聽聽
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um we just we're just going to go ahead and聽
copy it and paste it so that we have an exact聽聽
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replica of that flagpole and we start the flagpole聽
wherever we think our new bull run starts okay聽聽
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so if we think um you know we chopped around聽
a little bit we hit the bottom here came up a聽聽
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little bit came back down a little bit and this is聽
the start of our new bull run we're going to start聽聽
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heading up from here that's where we start our聽
new flagpole so let's go ahead and put it right聽聽
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there at the bottom of that candlestick and what聽
is our price target 1.96 so we have a dollar 96聽聽
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price target on zom zomedica and it's currently聽
trading at a dollar 11. that means that you have聽聽
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85 cents of upside potential on a one dollar stock聽
that is like a 80 percent gain uh potential right聽聽
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i mean that is absolutely massive and that's why聽
i'm making this video for you guys because i saw a聽聽
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massive potential on this stock i actually did a聽
live stream last night and one of um the viewers聽聽
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in the chat asked me to look up this chart i'd聽
never looked at this chart before until last night聽聽
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and uh we we looked at this pattern live last聽
night on on the live stream and so glad that that聽聽
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viewer brought this to my attention so whoever聽
you are out there if you're watching this thank聽聽
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you for bringing that up uh because um you know聽
i went ahead and made and took a position on here聽聽
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because i think there is massive upside potential聽
on stock ticker zom okay so um that is the price聽聽
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target we've got a dollar ninety six uh it's聽
currently trading at 111 that is the price聽聽
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that i got in that as well but look guys don't聽
take my word for it let's look at some of the聽聽
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other uh technical opinions out聽
there let's see what trading view has聽聽
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um okay so trading view has a buy rating on zom聽
right let's look at bar chart barchart.com punch聽聽
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in zom you come over here you get a strong buy聽
from a bar chart right 100 by with the strongest聽聽
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short term outlook on maintaining the current聽
direction right the current direction is up so聽聽
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they think they have a the strongest short-term聽
outlook on maintaining the current direction聽聽
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long-term indicators fully support a continuation聽
of the trend right continuation of the trend up so聽聽
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those are all very good things that they're saying聽
there and last night when i looked at this page聽聽
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there were zero analysts covering this stock and聽
now we have one so that is cool to see an analyst聽聽
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got on board with this stock and they put a strong聽
buy on it let's see what their price target is for聽聽
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it they have a price target of a dollar twenty聽
okay so it's currently trading at a dollar eleven聽聽
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right dollar eleven um the professional analyst聽
has a price target of a dollar twenty so they聽聽
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do see some upside there it's about nine cents to聽
the upside on a dollar eleven stocks that's like a聽聽
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eight percent uh upside you know not a ton but you聽
know what that's better than nothing and that's聽聽
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not even close to to the the stock uh target聽
the price target that i have on this stock but聽聽
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it is nice to see a professional uh analyst get聽
on board with this stock with a strong buy opinion聽聽
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okay so that is what i got for this stock guys聽
i hope you enjoyed it if you did hit that like聽聽
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button if you're not a subscriber yet hit the聽
subscribe button i do stock chart pattern analysis聽聽
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on this channel and a couple of how-to videos as聽
well here and there so hit the subscribe button if聽聽
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you are interested in seeing more um price targets聽
and price predictions things like that we've been聽聽
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doing pretty well on this channel聽
with with that kind of stuff聽聽
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okay uh that's all i got guys i'll see you down in聽
the comments below and in the next video thank you
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