JELD-WEN Holding Inc Stock Forecast
JELD-WEN Holding Inc stock downgraded to Strong Sell Candidate
(Updated on May 17, 2024)
The JELD-WEN Holding Inc stock price gained 1.30% on the last trading day (Friday, 17th May 2024), rising from $15.41 to $15.61. During the last trading day the stock fluctuated 1.65% from a day low at $15.41 to a day high of $15.67. The price has risen in 6 of the last 10 days but is still down by -22.18% for this period. Volume fell on the last day by -572 thousand shares and in total, 973 thousand shares were bought and sold for approximately $15.18 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.37% during the next 3 months and, with a 90% probability hold a price between $12.77 and $19.45 at the end of this 3-month period.
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JELD Signals & Forecast
There are mixed signals in the stock today. The JELD-WEN Holding Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $18.58. On a fall, the stock will find some support from the short-term average at $15.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 11.74%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A sell signal from a double top formation was found on Friday, April 26, 2024 and based on theory for this formation the price should fall by -3.08% to $15.13 within 15 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for JELD-WEN Holding Inc stock
JELD-WEN Holding Inc finds support from accumulated volume at $15.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.255 between high and low, or 1.65%. For the last week, the stock has had daily average volatility of 2.52%.
JELD-WEN Holding Inc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JELD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect JELD-WEN Holding Inc to open at $15.56, and during the day (based on 14 day Average True Range), to move between $14.72 and $16.50, which gives a possible trading interval of +/-$0.89 (+/-5.72%) up or down from last closing price. If JELD-WEN Holding Inc takes out the full calculated possible swing range there will be an estimated 11.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.41 (1.28%) than the resistance at $17.96 (15.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JELD-WEN Holding Inc stock A Buy?
JELD-WEN Holding Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.083 Strong Sell Candidate Downgraded
Predicted Opening Price for JELD-WEN Holding Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $15.56 ( 0.310%) | $15.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JELD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.82 | 1.32 % | |
| R2 | 15.72 | 0.700 % | ||
| R1 | 15.66 | 0.314 % | ||
| Current price: | 15.61 | |||
| Support | S1 | 15.46 | -0.93 % | |
| S2 | 15.40 | -1.32 % | ||
| S3 | 15.31 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.04 | 21.97 % | |
| R2 | 18.20 | 16.59 % | ||
| R1 | 17.96 | 15.05 % | ||
| Current price | 15.61 | |||
| Support | S1 | 15.41 | -1.28% | |
| S2 | 14.34 | -8.14% | ||
| S3 | 13.97 | -10.51% |
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