small-cap

One NASDAQ – Listed Healthtech Stock at Resistance Levels: Zynex Inc

Feb 05, 2024 | Team Kalkine
One NASDAQ – Listed Healthtech Stock at Resistance Levels: Zynex Inc
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ZYXI:NASDAQ
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Zynex Inc

Company Overview: Zynex, Inc. (NASDAQ: ZYXI) develops, manufactures, markets, and sells medical devices used for pain management and rehabilitation as well as non-invasive fluid, sepsis, and laser-based pulse oximetry monitoring systems for use in hospitals. The Company’s devices are intended for pain management and provide rehabilitation and through the utilization of non-invasive muscle stimulation, electromyography technology, interferential current (IFC), neuromuscular electrical stimulation (NMES) and transcutaneous electrical nerve stimulation (TENS).

As per our previous US American Tech report published on ‘ZYXI’ on 23rd January 2024, Kalkine provided a ‘Buy’ stance on the stock at USD 10.59 based on “expected valuation upside, higher profitability margins, better short-term liquidity, attractive valuation, and decent fundamentals and the stock price has now moved by ~9.82% since then and the price has crossed resistance 1 and closing towards resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

ZYXI’s Daily Chart

Considering the resistance around the range of USD 11.50 – USD 12.50, attainment of resistance 1, current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, aSell’ rating is assigned to the “ZYXI” at the current market price of USD11.63 (as of 05 February 2024, 08:10 am PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is February 05, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’


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Past performance is not a reliable indicator of future performance.