John B. Sanfilippo & Son Stock Forecast
John B. Sanfilippo & Son stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The John B. Sanfilippo & Son stock price fell by -3.34% on the last day (Friday, 3rd May 2024) from $101.37 to $97.98. During the last trading day the stock fluctuated 5.06% from a day low at $97.41 to a day high of $102.34. The price has risen in 7 of the last 10 days but is still down by -0.19% for this period. 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 -28 thousand shares and in total, 62 thousand shares were bought and sold for approximately $6.08 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $95.96 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect John B. Sanfilippo & Son stock with a 90% probability to be traded between $95.21 and $106.53 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JBSS Signals & Forecast
There are mixed signals in the stock today. The John B. Sanfilippo & Son stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $100.13 and $101.95. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.94%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for John B. Sanfilippo & Son stock
John B. Sanfilippo & Son finds support from accumulated volume at $97.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.93 (5.06%) between high and low. For the last week, the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JBSS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect John B. Sanfilippo & Son to open at $99.24, and during the day (based on 14 day Average True Range), to move between $95.30 and $100.66, which gives a possible trading interval of +/-$2.68 (+/-2.73%) up or down from last closing price. If John B. Sanfilippo & Son takes out the full calculated possible swing range there will be an estimated 5.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $97.71 (0.28%) than the resistance at $102.06 (4.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is John B. Sanfilippo & Son stock A Buy?
John B. Sanfilippo & Son 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 Hold/Accumulate to a Sell candidate.
Current score: -2.377 Sell Candidate Downgraded
Predicted Opening Price for John B. Sanfilippo & Son of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $99.24 ( 1.29%) | $97.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JBSS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.17 | 6.32 % | |
| R2 | 102.29 | 4.40 % | ||
| R1 | 101.13 | 3.21 % | ||
| Current price: | 97.98 | |||
| Support | S1 | 97.36 | -0.633 % | |
| S2 | 96.20 | -1.82 % | ||
| S3 | 94.31 | -3.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.67 | 9.89 % | |
| R2 | 104.20 | 6.35 % | ||
| R1 | 102.06 | 4.16 % | ||
| Current price | 97.98 | |||
| Support | S1 | 97.71 | -0.276% | |
| S2 | 97.52 | -0.469% | ||
| S3 | 97.25 | -0.745% |
JBSS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 18, 2023 | Aug 21, 2023 | Sep 13, 2023 | $2.00 | 1.95% |
| 2 | May 02, 2023 | May 31, 2023 | Jun 22, 2023 | $1.50 | 1.19% |
| 3 | Nov 03, 2022 | Dec 01, 2022 | Dec 21, 2022 | $1.00 | 1.21% |
| 4 | Jul 07, 2022 | Aug 11, 2022 | Aug 31, 2022 | $2.25 | 2.79% |
| 5 | Jul 08, 2021 | Aug 09, 2021 | Aug 25, 2021 | $3.00 | 3.49% |
FAQ
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