Jewett-Cameron Trading Company Stock Forecast
Jewett-Cameron Trading Company stock price ended at $5.39 on Wednesday, after gaining 0.94%.
(Updated on May 08, 2024)
The Jewett-Cameron Trading Company stock price gained 0.94% on the last trading day (Wednesday, 8th May 2024), rising from $5.34 to $5.39. During the last trading day the stock fluctuated 1.12% from a day low at $5.39 to a day high of $5.45. The price has risen in 6 of the last 10 days and is up by 7.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $25.85 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 -4.31% during the next 3 months and, with a 90% probability hold a price between $4.32 and $5.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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. 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 $5.32 and $5.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -1.87%. Further fall is indicated until a new bottom pivot has been found. 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 $0.0606 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: $5.15 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (JCTCF) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Jewett-Cameron Trading Company to open at $5.41, and during the day (based on 14 day Average True Range), to move between $5.22 and $5.56, which gives a possible trading interval of +/-$0.169 (+/-3.13%) 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 6.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.49 (1.90%) than the support at $5.24 (2.78%), 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?
Jewett-Cameron Trading Company 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: -0.743 Hold/Accumulate Unchanged
Predicted Opening Price for Jewett-Cameron Trading Company of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $5.41 ( 0.367%) | $5.39 |
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 | 5.47 | 1.49 % | |
| R2 | 5.45 | 1.06 % | ||
| R1 | 5.43 | 0.797 % | ||
| Current price: | 5.39 | |||
| Support | S1 | 5.39 | -0.0621 % | |
| S2 | 5.37 | -0.327 % | ||
| S3 | 5.35 | -0.757 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.54 | 2.78 % | |
| R2 | 5.50 | 2.04 % | ||
| R1 | 5.49 | 1.90 % | ||
| Current price | 5.39 | |||
| Support | S1 | 5.24 | -2.78% | |
| S2 | 5.09 | -5.57% | ||
| S3 | 4.72 | -12.43% |
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