JanOne Inc. Stock Forecast
High volatility in JanOne Inc. stock price on Friday which ended trading at $3.97
(Updated on Apr 19, 2024)
The JanOne Inc. stock price gained 7.30% on the last trading day (Friday, 19th Apr 2024), rising from $3.70 to $3.97. During the last trading day the stock fluctuated 11.52% from a day low at $3.56 to a day high of $3.97. The price has risen in 7 of the last 10 days and is up by 58.8% 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, 8 thousand more shares were traded than the day before. In total, 157 thousand shares were bought and sold for approximately $624.60 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $4.19 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 418.33% during the next 3 months and, with a 90% probability hold a price between $15.34 and $21.71 at the end of this 3-month period.
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JAN Signals & Forecast
Mostly positive signals in the chart today. The JanOne 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 $3.46 and $2.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 68.22%. 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). JanOne 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.
Support, Risk & Stop-loss for JanOne Inc. stock
JanOne Inc. finds support from accumulated volume at $3.82 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 $0.410 between high and low, or 11.52%. For the last week, the stock has had daily average volatility of 17.17%.
The JanOne Inc. 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: $3.83 (-3.48%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (JAN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect JanOne Inc. to open at $3.83, and during the day (based on 14 day Average True Range), to move between $3.60 and $4.34, which gives a possible trading interval of +/-$0.365 (+/-9.20%) up or down from last closing price. If JanOne Inc. takes out the full calculated possible swing range there will be an estimated 18.39% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.82, some $0.150 (3.78%) from the current price of $3.97, our system finds the risk reward attractive.
Is JanOne Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for JanOne Inc. stock to perform well in the short-term.
Current score: 3.874 Buy Candidate Unchanged
Predicted Opening Price for JanOne Inc. of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$3.83 ( 3.44%) | $3.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JAN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.24 | 6.88 % | |
R2 | 4.09 | 2.94 % | ||
R1 | 3.99 | 0.503 % | ||
Current price: | 3.97 | |||
Support | S1 | 3.68 | -7.39 % | |
S2 | 3.58 | -9.82 % | ||
S3 | 3.42 | -13.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 3.97 | |||
Support | S1 | 3.82 | -3.78% | |
S2 | 3.08 | -22.42% | ||
S3 | 2.98 | -24.94% |
FAQ
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