J & J Snack Foods Corp. Stock Forecast
J & J Snack Foods Corp. stock upgraded to Strong Buy Candidate.
(Updated on May 08, 2024)
The J & J Snack Foods Corp. stock price gained 2.38% on the last trading day (Wednesday, 8th May 2024), rising from $160.47 to $164.29. During the last trading day the stock fluctuated 3.90% from a day low at $159.09 to a day high of $165.29. The price has been going up and down for this period, and there has been a 18.36% gain for the last 2 weeks. Volume fell on the last day by -181 thousand shares and in total, 108 thousand shares were bought and sold for approximately $17.77 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.
Given the current short-term trend, the stock is expected to fall -4.38% during the next 3 months and, with a 90% probability hold a price between $126.57 and $157.09 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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JJSF Signals & Forecast
Mostly positive signals in the chart today. The J & J Snack Foods Corp. 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 $144.69 and $139.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 22.40%. 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). 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.
Support, Risk & Stop-loss for J & J Snack Foods Corp. stock
J & J Snack Foods Corp. finds support from accumulated volume at $160.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $6.20 between high and low, or 3.90%. For the last week, the stock has had daily average volatility of 3.81%.
The J & J Snack Foods Corp. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $159.89 (-2.68%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (JJSF) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect J & J Snack Foods Corp. to open at $162.89, and during the day (based on 14 day Average True Range), to move between $160.35 and $168.23, which gives a possible trading interval of +/-$3.94 (+/-2.40%) up or down from last closing price. If J & J Snack Foods Corp. takes out the full calculated possible swing range there will be an estimated 4.80% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $160.47, some $3.82 (2.33%) from the current price of $164.29, our system finds the risk reward attractive.
Is J & J Snack Foods Corp. stock A Buy?
J & J Snack Foods Corp. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect J & J Snack Foods Corp. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.392 Strong Buy Candidate Upgraded
Predicted Opening Price for J & J Snack Foods Corp. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $162.89 ( 0.85%) | $164.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JJSF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 169.09 | 2.92 % | |
| R2 | 166.72 | 1.48 % | ||
| R1 | 165.26 | 0.589 % | ||
| Current price: | 164.29 | |||
| Support | S1 | 160.52 | -2.29 % | |
| S2 | 159.06 | -3.18 % | ||
| S3 | 156.69 | -4.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 164.29 | |||
| Support | S1 | 160.47 | -2.33% | |
| S2 | 143.89 | -12.42% | ||
| S3 | 143.34 | -12.75% |
JJSF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Mar 18, 2024 | Apr 09, 2024 | $0.735 | 0.530% |
| 2 | Nov 15, 2023 | Dec 18, 2023 | Jan 09, 2024 | $0.735 | 0.458% |
| 3 | Aug 10, 2023 | Sep 15, 2023 | Oct 10, 2023 | $0.740 | 0.464% |
| 4 | May 19, 2023 | Jun 16, 2023 | Jul 11, 2023 | $0.700 | 0.454% |
| 5 | Feb 15, 2023 | Mar 20, 2023 | Apr 11, 2023 | $0.700 | 0.459% |
FAQ
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