Jet Freight Logistics Limited Stock Forecast

Red day on Friday for Jet Freight Logistics Limited
(Updated on Jun 14, 2024)

JETFREIGHT.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 8.59%. Further rise is indicated until a new top pivot has been found. 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. The Jet Freight Logistics Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹13.60. On a fall, the stock will find some support from the short-term average at ₹13.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Jet Freight Logistics Limited stock

Jet Freight Logistics Limited finds support from accumulated volume at ₹12.93 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.620 between high and low, or 4.67%. For the last week the stock has had daily average volatility of 5.18%.

Our recommended stop-loss: ₹12.99 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 45 days ago.)

Trading Expectations (JETFREIGHT.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Jet Freight Logistics Limited to open at ₹13.57, and during the day (based on 14 day Average True Range), to move between ₹12.79 and ₹14.25, which gives a possible trading interval of +/-₹0.734 (+/-5.43%) up or down from last closing price. If Jet Freight Logistics Limited takes out the full calculated possible swing range there will be an estimated 10.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹12.93 (4.36%) than the resistance at ₹14.83 (9.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Jet Freight Logistics Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Jet Freight Logistics Limited stock to perform well in the short-term period.

Current score: 1.470 Buy Candidate Unchanged

Predicted Opening Price for Jet Freight Logistics Limited of Tuesday, June 18, 2024

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