JB Hi-Fi Limited Stock Forecast
JB Hi-Fi Limited stock price ended at $57.13 on Wednesday, after losing 0.488%.
(Updated on May 22, 2024)
The JB Hi-Fi Limited stock price fell by -0.488% on the last day (Wednesday, 22nd May 2024) from $57.41 to $57.13. During the last trading day the stock fluctuated 0.89% from a day low at $57.08 to a day high of $57.59. The price has fallen in 6 of the last 10 days and is down by -4.74% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -250 thousand shares and in total, 270 thousand shares were bought and sold for approximately $15.42 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $55.88 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.66% during the next 3 months and, with a 90% probability hold a price between $53.27 and $60.48 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
JBH.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 1.49%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The JB Hi-Fi Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $57.38 and $60.51. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for JB Hi-Fi Limited stock
JB Hi-Fi Limited finds support from accumulated volume at $56.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.510 between high and low, or 0.89%. For the last week, the stock has had daily average volatility of 1.41%.
Our recommended stop-loss: $53.81 (-5.81%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (JBH.AX) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect JB Hi-Fi Limited to open at $57.27, and during the day (based on 14 day Average True Range), to move between $55.90 and $58.36, which gives a possible trading interval of +/-$1.23 (+/-2.15%) up or down from last closing price. If JB Hi-Fi Limited takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $57.25 (0.21%) than the support at $56.55 (1.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is JB Hi-Fi Limited stock A Buy?
JB Hi-Fi Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.715 Hold/Accumulate Unchanged
Predicted Opening Price for JB Hi-Fi Limited of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $57.27 ( 0.239%) | $57.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JBH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.78 | 1.13 % | |
| R2 | 57.58 | 0.791 % | ||
| R1 | 57.46 | 0.580 % | ||
| Current price: | 57.13 | |||
| Support | S1 | 57.07 | -0.102 % | |
| S2 | 56.95 | -0.312 % | ||
| S3 | 56.76 | -0.653 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.73 | 6.30 % | |
| R2 | 59.68 | 4.46 % | ||
| R1 | 57.25 | 0.210 % | ||
| Current price | 57.13 | |||
| Support | S1 | 56.55 | -1.02% | |
| S2 | 56.29 | -1.47% | ||
| S3 | 0 | . |
JBH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 08, 2024 | $1.58 | 2.66% |
| 2 | Feb 23, 2023 | Feb 23, 2023 | Feb 23, 2023 | $1.97 | 4.59% |
| 3 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | $1.53 | 3.69% |
| 4 | Feb 23, 2022 | Feb 23, 2022 | Feb 23, 2022 | $1.63 | 3.25% |
| 5 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | $1.07 | 2.32% |
FAQ
Click here for our free guide on how to buy JB Hi-Fi Limited Stock.
