Jenoptik AG Stock Forecast

Jenoptik AG stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 23, 2024)

JEN.F Signals & Forecast

The Jenoptik AG 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 27.92€ and 26.27€. 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). 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 Wednesday, May 22, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Jenoptik AG stock

Jenoptik AG finds support from accumulated volume at 27.70€ 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 0.480€ between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 1.98%.

The Jenoptik AG stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: 27.57€ (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (JEN.F) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Jenoptik AG to open at 28.55€, and during the day (based on 14 day Average True Range), to move between 27.83€ and 29.21€, which gives a possible trading interval of +/-0.687€ (+/-2.41%) up or down from last closing price. If Jenoptik AG takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 28.80€ (0.98%) than the support at 27.70€ (2.88%), 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 Jenoptik AG stock A Buy?

Jenoptik AG 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: -0.606 Hold/Accumulate Downgraded

Predicted Opening Price for Jenoptik AG of Friday, May 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.