Janux Therapeutics, Inc. Stock Forecast
Volatile ride for Janux Therapeutics, Inc. stock price on Friday moving between $59.31 and $65.60
(Updated on May 03, 2024)
The Janux Therapeutics, Inc. stock price gained 3.76% on the last trading day (Friday, 3rd May 2024), rising from $62.43 to $64.78. 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 10.61% from a day low at $59.31 to a day high of $65.60. The price has risen in 8 of the last 10 days and is up by 33.05% over the past 2 weeks. Volume fell on the last day by -70 thousand shares and in total, 1 million shares were bought and sold for approximately $67.29 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.
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 116.12% during the next 3 months and, with a 90% probability hold a price between $107.34 and $181.41 at the end of this 3-month period.
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JANX Signals & Forecast
The Janux Therapeutics, 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 $56.14 and $45.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 84.45%. 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 Janux Therapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $56.08 and $50.00. 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, Janux Therapeutics, Inc. finds support just below today's level at $56.08. If this is broken, then the next support from accumulated volume will be at $50.00 and $49.75.
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 $6.29 between high and low, or 10.61%. For the last week, the stock has had daily average volatility of 13.50%.
Since the Janux Therapeutics, 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.
Our recommended stop-loss: $61.53 (-5.02%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (JANX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Janux Therapeutics, Inc. to open at $63.23, and during the day (based on 14 day Average True Range), to move between $60.15 and $69.41, which gives a possible trading interval of +/-$4.63 (+/-7.15%) up or down from last closing price. If Janux Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 14.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $56.08, some $8.70 (13.43%) from the current price of $64.78, our system finds the risk reward attractive.
Is Janux Therapeutics, Inc. stock A Buy?
Janux Therapeutics, 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Janux Therapeutics, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $63.23 ( 2.39%) | $64.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JANX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.52 | 7.32 % | |
| R2 | 67.12 | 3.61 % | ||
| R1 | 65.63 | 1.32 % | ||
| Current price: | 64.78 | |||
| Support | S1 | 60.83 | -6.10 % | |
| S2 | 59.34 | -8.39 % | ||
| S3 | 56.94 | -12.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 64.78 | |||
| Support | S1 | 56.08 | -13.43% | |
| S2 | 50.00 | -22.82% | ||
| S3 | 49.75 | -23.20% |
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