JELD-WEN Holding Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
JELD-WEN Holding Inc stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 29, 2024)
The JELD-WEN Holding Inc stock price fell by -1.87% on the last day (Monday, 29th Apr 2024) from $21.40 to $21.00. During the last trading day the stock fluctuated 4.09% from a day low at $20.79 to a day high of $21.64. The price has been going up and down for this period, and there has been a 9.2% gain for the last 2 weeks. 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 -2 million shares and in total, 769 thousand shares were bought and sold for approximately $16.15 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.64% during the next 3 months and, with a 90% probability hold a price between $19.62 and $23.49 at the end of this 3-month period.
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JELD Signals & Forecast
The JELD-WEN Holding Inc 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 $19.67 and $19.75. A breakdown below any of these levels will issue sell signals. 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, April 26, 2024, and so far it has fallen -1.87%. Further fall is indicated until a new bottom pivot has been found. 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.
A sell signal from a double top formation was found on Friday, April 26, 2024 and based on theory for this formation the price should fall by -27.96% to $15.13 within 15 trading days since signal was issued (Tuesday, April 30, 2024).
Support, Risk & Stop-loss for JELD-WEN Holding Inc stock
JELD-WEN Holding Inc finds support from accumulated volume at $20.97 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 $0.85 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 6.73%.
Our recommended stop-loss: $20.01 (-4.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (JELD) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect JELD-WEN Holding Inc to open at $21.14, and during the day (based on 14 day Average True Range), to move between $20.15 and $21.85, which gives a possible trading interval of +/-$0.85 (+/-4.07%) up or down from last closing price. If JELD-WEN Holding Inc takes out the full calculated possible swing range there will be an estimated 8.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.97 (0.14%) than the resistance at $21.23 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
JELD-WEN Holding Inc will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.200. We will update the financials statements for JELD-WEN Holding Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.26% in the first trading day after earnings release.
Is JELD-WEN Holding Inc stock A Buy?
JELD-WEN Holding Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.239 Hold/Accumulate Downgraded
Predicted Opening Price for JELD-WEN Holding Inc of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $21.14 ( 0.683%) | $21.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JELD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.99 | 4.73 % | |
| R2 | 21.67 | 3.18 % | ||
| R1 | 21.47 | 2.23 % | ||
| Current price: | 21.00 | |||
| Support | S1 | 20.82 | -0.86 % | |
| S2 | 20.62 | -1.82 % | ||
| S3 | 20.29 | -3.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.42 | 2.00 % | |
| R2 | 21.40 | 1.90 % | ||
| R1 | 21.23 | 1.10 % | ||
| Current price | 21.00 | |||
| Support | S1 | 20.97 | -0.143% | |
| S2 | 20.54 | -2.19% | ||
| S3 | 19.83 | -5.57% |
FAQ
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