Big movements in Jupiter Wellness, Inc. stock price on Thursday moving 15.79% between high and low

StockInvest.us, 10 months ago

Jupiter Wellness, Inc.

The Jupiter Wellness, Inc. stock price gained 11.76% on the last trading day (Thursday, 14th Sep 2023), rising from $1.36 to $1.52. During the last trading day the stock fluctuated 15.79% from a day low at $1.33 to a day high of $1.54. The price has risen in 7 of the last 10 days and is up by 35.71% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 963 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $2.96 million.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 211.85% during the next 3 months and, with a 90% probability hold a price between $3.56 and $5.22 at the end of this 3-month period.

Jupiter Wellness, Inc.

The Jupiter Wellness, Inc. 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 $1.29 and $1.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, August 28, 2023, and so far it has risen 65.22%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $1.27 and $1.20.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, Jupiter Wellness, Inc. finds support just below today's level at $1.27. If this is broken, then the next support from accumulated volume will be at $1.20 and $1.18.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.210 between high and low, or 15.79%. For the last week, the stock has had daily average volatility of 10.44%.

Jupiter Wellness, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Check full Jupiter Wellness, Inc. forecast and analysis here.