Jatcorp Ltd Stock Forecast

Evaluation of Jatcorp Ltd stock downgraded after the last trading session.
(Updated on Jun 27, 2024)

JAT.AX Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -11.28%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Jatcorp Ltd 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 A$0.511 and A$0.471. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Jatcorp Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at A$0.560 and A$0.515. 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, Jatcorp Ltd finds support just below today's level at A$0.560. If this is broken, then the next support from accumulated volume will be at A$0.515 and A$0.475.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved A$0.0230 between high and low, or 3.99%. For the last week the stock has had daily average volatility of 8.33%.

Since the Jatcorp Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: A$0.559 (-5.20%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (JAT.AX) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Jatcorp Ltd to open at A$0.589, and during the day (based on 14 day Average True Range), to move between A$0.550 and A$0.630, which gives a possible trading interval of +/-A$0.0397 (+/-6.73%) up or down from last closing price. If Jatcorp Ltd takes out the full calculated possible swing range there will be an estimated 13.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$0.560 (5.08%) than the resistance at A$0.665 (12.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Jatcorp Ltd 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 Jatcorp Ltd stock to perform well in the short-term. 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 Buy candidate.

Current score: 3.494 Buy Candidate Downgraded

Predicted Opening Price for Jatcorp Ltd of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.