James River Group Holdings Stock Forecast
Red day on Monday for James River Group Holdings stock after losing 0.642%
(Updated on Apr 22, 2024)
The James River Group Holdings stock price fell by -0.642% on the last day (Monday, 22nd Apr 2024) from $9.34 to $9.28. During the last trading day the stock fluctuated 1.85% from a day low at $9.17 to a day high of $9.34. The price has risen in 6 of the last 10 days and is up by 5.22% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -197 thousand shares and in total, 479 thousand shares were bought and sold for approximately $4.45 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $9.98 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.08% during the next 3 months and, with a 90% probability hold a price between $5.43 and $8.77 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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JRVR Signals & Forecast
The James River Group Holdings stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $8.91 and $8.64. A breakdown 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 sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.642%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for James River Group Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.93 and $7.76. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, James River Group Holdings finds support just below today's level at $7.93. If this is broken, then the next support from accumulated volume will be at $7.76 and $7.72.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.170 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 5.27%.
Our recommended stop-loss: $8.90 (-4.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (JRVR) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect James River Group Holdings to open at $9.26, and during the day (based on 14 day Average True Range), to move between $8.76 and $9.80, which gives a possible trading interval of +/-$0.515 (+/-5.55%) up or down from last closing price. If James River Group Holdings takes out the full calculated possible swing range there will be an estimated 11.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.33 (0.54%) than the support at $7.93 (14.55%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is James River Group Holdings stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.298 Buy Candidate Unchanged
Predicted Opening Price for James River Group Holdings of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $9.26 ( 0.180%) | $9.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JRVR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.43 | 1.65 % | |
| R2 | 9.37 | 0.95 % | ||
| R1 | 9.33 | 0.520 % | ||
| Current price: | 9.28 | |||
| Support | S1 | 9.20 | -0.88 % | |
| S2 | 9.16 | -1.31 % | ||
| S3 | 9.09 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.37 | 11.75 % | |
| R2 | 9.99 | 7.65 % | ||
| R1 | 9.33 | 0.539 % | ||
| Current price | 9.28 | |||
| Support | S1 | 7.93 | -14.55% | |
| S2 | 7.76 | -16.38% | ||
| S3 | 7.72 | -16.81% |
JRVR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 08, 2024 | Mar 29, 2024 | $0.0500 | 0.538% |
| 2 | Dec 08, 2023 | Dec 08, 2023 | Dec 29, 2023 | $0.0500 | 0.541% |
| 3 | Aug 07, 2023 | Sep 08, 2023 | Sep 29, 2023 | $0.0500 | 0.326% |
| 4 | Aug 07, 2023 | Jun 09, 2023 | Jun 30, 2023 | $0.0500 | 0.274% |
| 5 | May 27, 2023 | Mar 10, 2023 | Mar 31, 2023 | $0.0500 | 0.242% |
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