Jewett-Cameron Trading Company Stock Forecast
Stronger technical forecast for Jewett-Cameron Trading Company stock price after Friday trading.
(Updated on Apr 26, 2024)
The Jewett-Cameron Trading Company stock price gained 4.80% on the last trading day (Friday, 26th Apr 2024), rising from $5.12 to $5.37. During the last trading day the stock fluctuated 3.14% from a day low at $5.21 to a day high of $5.37. The price has been going up and down for this period, and there has been a -5.62% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $34.13 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.95% during the next 3 months and, with a 90% probability hold a price between $4.37 and $5.43 at the end of this 3-month period.
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JCTCF Signals & Forecast
The Jewett-Cameron Trading Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.11 and $5.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 17.25%. Further rise is indicated until a new top pivot has been found. Jewett-Cameron Trading Company 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, November 08, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, November 08, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Jewett-Cameron Trading Company stock
Jewett-Cameron Trading Company finds support from accumulated volume at $5.24 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 $0.164 between high and low, or 3.14%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: $5.15 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (JCTCF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Jewett-Cameron Trading Company to open at $5.32, and during the day (based on 14 day Average True Range), to move between $5.20 and $5.54, which gives a possible trading interval of +/-$0.173 (+/-3.23%) up or down from last closing price. If Jewett-Cameron Trading Company takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.45 (1.49%) than the support at $5.24 (2.42%), 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 Jewett-Cameron Trading Company stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.984 Buy Candidate Upgraded
Predicted Opening Price for Jewett-Cameron Trading Company of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $5.32 ( 1.02%) | $5.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JCTCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.48 | 2.03 % | |
| R2 | 5.42 | 0.87 % | ||
| R1 | 5.38 | 0.148 % | ||
| Current price: | 5.37 | |||
| Support | S1 | 5.25 | -2.18 % | |
| S2 | 5.21 | -2.90 % | ||
| S3 | 5.15 | -4.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.54 | 3.17 % | |
| R2 | 5.48 | 1.96 % | ||
| R1 | 5.45 | 1.49 % | ||
| Current price | 5.37 | |||
| Support | S1 | 5.24 | -2.42% | |
| S2 | 5.12 | -4.66% | ||
| S3 | 4.72 | -12.10% |
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