Janus International Group, Inc. Stock Forecast
Red day on Wednesday for Janus International Group, Inc. stock after losing 2.50%
(Updated on May 01, 2024)
The Janus International Group, Inc. stock price fell by -2.50% on the last day (Wednesday, 1st May 2024) from $14.41 to $14.05. During the last trading day the stock fluctuated 3.03% from a day low at $14.04 to a day high of $14.46. The price has been going up and down for this period, and there has been a -5.77% loss for the last 2 weeks. Volume has increased on the last day by 343 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $19.54 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $13.99 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Janus International Group, Inc. stock with a 90% probability to be traded between $13.76 and $14.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JBI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Janus International Group, Inc. 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 $14.67 and $14.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -6.27%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Friday, February 16, 2024 with a target of $14.85. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Janus International Group, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.425 (3.03%) between high and low. For the last week, the stock has had daily average volatility of 3.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JBI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Janus International Group, Inc. to open at $14.18, and during the day (based on 14 day Average True Range), to move between $13.62 and $14.48, which gives a possible trading interval of +/-$0.426 (+/-3.03%) up or down from last closing price. If Janus International Group, Inc. takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $14.17, some $0.120 (0.85%) from the current price of $14.05, our system finds the risk reward not very attractive.
Earnings coming up
Janus International Group, Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.190. We will update the financials statements for Janus International Group, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.17% in the first trading day after earnings release.
Is Janus International Group, Inc. stock A Buy?
Janus International Group, Inc. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.844 Sell Candidate Unchanged
Predicted Opening Price for Janus International Group, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $14.18 ( 0.94%) | $14.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.61 | 3.96 % | |
| R2 | 14.44 | 2.81 % | ||
| R1 | 14.34 | 2.09 % | ||
| Current price: | 14.05 | |||
| Support | S1 | 14.02 | -0.218 % | |
| S2 | 13.92 | -0.93 % | ||
| S3 | 13.76 | -2.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.94 | 6.33 % | |
| R2 | 14.35 | 2.14 % | ||
| R1 | 14.17 | 0.85 % | ||
| Current price | 14.05 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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