High volatility in Jupiter Wellness, Inc. stock price on Thursday which ended trading at $1.05StockInvest.us, 1 week ago
The Jupiter Wellness, Inc. stock price gained 6.06% on the last trading day (Thursday, 15th Sep 2022), rising from $0.99 to $1.05. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 16.16% from a day low at $0.99 to a day high of $1.15. The price has risen in 8 of the last 10 days and is up by 24.96% 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, 255 thousand more shares were traded than the day before. In total, 574 thousand shares were bought and sold for approximately $602.85 thousand.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.94, a level that may pose a second chance to hit a runner. According to fan-theory $1.23 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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 $0.87 and $0.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, September 08, 2022, and so far it has risen 44.29%. 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). Jupiter Wellness, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
On the downside, the stock finds support just below today's level from accumulated volume at $0.99 and $0.81.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 $0.99. If this is broken, then the next support from accumulated volume will be at $0.81 and $0.80.
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 $0.16 between high and low, or 16.16%. For the last week, the stock has had daily average volatility of 15.34%.
Since the Jupiter Wellness, Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
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.