Jack Nathan Medical Corp. Stock Forecast
Jack Nathan Medical Corp. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
No changes to the price of Jack Nathan Medical Corp. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0300 to a day high of $0.0300. The price has been going up and down for this period, and there has been a -25% loss for the last 2 weeks.
The stock lies in the middle of a very 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 -41.03% during the next 3 months and, with a 90% probability hold a price between $0.0095 and $0.0236 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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JNH.V Signals & Forecast
There are mixed signals in the stock today. The Jack Nathan Medical Corp. 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 $0.0370. On a fall, the stock will find some support from the short-term average at $0.0286. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Thursday, June 13, 2024 with a target of $0.0421. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Jack Nathan Medical Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0250. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.00%
Jack Nathan Medical Corp. is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JNH.V) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Jack Nathan Medical Corp. to open at $0.0300, and during the day (based on 14 day Average True Range), to move between $0.0271 and $0.0329, which gives a possible trading interval of +/-$0.0029 (+/-9.66%) up or down from last closing price. If Jack Nathan Medical Corp. takes out the full calculated possible swing range there will be an estimated 19.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0250 (16.67%) than the resistance at $0.0350 (16.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jack Nathan Medical Corp. stock A Buy?
Jack Nathan Medical Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.732 Sell Candidate Downgraded
Predicted Opening Price for Jack Nathan Medical Corp. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.0300 ( 0%) | $0.0300 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JNH.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0300 | - |
| R2 | 0.0300 | - |
| R1 | 0.0300 | - |
| Price | 0.0300 | |
| S1 | 0.0300 | - |
| S2 | 0.0300 | - |
| S3 | 0.0300 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0350 | 16.67% |
| Price | 0.0300 | |
| S1 | 0.0250 | -16.67% |
| S2 | 0 | - |
| S3 | 0 | - |
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