JD Sports Fashion plc Stock Forecast
Green day on Friday for JD Sports Fashion plc stock after gaining 1.62%
(Updated on May 03, 2024)
The JD Sports Fashion plc stock price gained 1.62% on the last trading day (Friday, 3rd May 2024), rising from £113.85 to £115.70. During the last trading day the stock fluctuated 2.81% from a day low at £113.85 to a day high of £117.05. The price has been going up and down for this period, and there has been a -1.07% loss for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 7 million shares were bought and sold for approximately £763.77 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £112.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.47% during the next 3 months and, with a 90% probability hold a price between £123.20 and £152.12 at the end of this 3-month period.
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JD.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.17%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The JD Sports Fashion plc 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 £115.76 and £118.95. 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).
Support, Risk & Stop-loss for JD Sports Fashion plc stock
JD Sports Fashion plc finds support from accumulated volume at £113.10 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 £3.20 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 3.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JD.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect JD Sports Fashion plc to open at £115.53, and during the day (based on 14 day Average True Range), to move between £111.26 and £120.14, which gives a possible trading interval of +/-£4.44 (+/-3.84%) up or down from last closing price. If JD Sports Fashion plc takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £117.90 (1.90%) than the support at £113.10 (2.25%), 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 JD Sports Fashion plc stock A Buy?
The JD Sports Fashion plc stock holds several negative signals and despite the positive trend, we believe JD Sports Fashion plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.660 Sell Candidate Unchanged
Predicted Opening Price for JD Sports Fashion plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £115.53 ( 0.144%) | £115.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JD.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 118.73 | 2.62 % | |
| R2 | 117.51 | 1.57 % | ||
| R1 | 116.76 | 0.91 % | ||
| Current price: | 115.70 | |||
| Support | S1 | 114.31 | -1.20 % | |
| S2 | 113.56 | -1.85 % | ||
| S3 | 112.33 | -2.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.50 | 16.25 % | |
| R2 | 131.95 | 14.04 % | ||
| R1 | 117.90 | 1.90 % | ||
| Current price | 115.70 | |||
| Support | S1 | 113.10 | -2.25% | |
| S2 | 111.85 | -3.33% | ||
| S3 | 110.55 | -4.45% |
JD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | £0 | 0% |
| 2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | £0.670 | 0.486% |
| 3 | Sep 22, 2022 | Dec 08, 2022 | Jan 06, 2023 | £0.130 | 0.0912% |
| 4 | Jun 22, 2022 | Jul 07, 2022 | Aug 05, 2022 | £0.350 | 0.269% |
| 5 | Apr 13, 2021 | Jun 24, 2021 | Aug 02, 2021 | £0.288 | 0.156% |
FAQ
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