Help us make better tools for you!. Read more (Published: 2017-01-12)

JOY - Joy Global Inc Fri 13'th Jan 2017

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Buy Candidate

Score: 3.15

#1731 of 5193
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 75.00%
Risk: Low
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Stock analysis for Fri 13'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-10

Gain 0.04%

Joy Global Inc Stock Analysis


No changes to the price of Joy Global Inc in the last trading day. The price has risen in 5 of the last 10 days days and is up by 0.46% over the past 2 weeks.

Trend

Given the current horizontal trend you can expect Joy Global Inc with 90% probability to be traded between USD 28.27 and USD 28.52 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals

Joy Global Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 28.11 and USD 28.06. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday December 08, 2016, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention for the next couple of days.

The stock had a Golden Star Signal* on Thursday January 05, 2017 in the short-term chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Relative Strength Index (RSI)

RSI14 is 67 and the stock is currently not being overbought or oversold

Support & Resistance

Joy Global Inc finds support from accumulated volume at USD 28.09, USD 28.06, and USD 28.01. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 28.15.

The stock is about to test the resistance at USD 28.15. If this level is broken the stock may move faster and we often see a peak at the end of such a break, posing a good sales opportunity as in 90% of the cases you will get a reaction back to the level broken before new gains. A break should be followed by increasing volume else the break may be false and despite a break of the actual resistance level the stock falls back fairly soon.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day the stock moved USD 0.03 between high and low, and this equals 0.11%. For the last week, the stock has had a daily average volatility of 0.25%.

Our recommended stoploss: USD 27.67 (-1.67%) ( based on support and risk)

Evaluation

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.

Buy Candidate


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