Joby Aviation Stock Forecast
Evaluation of Joby Aviation stock downgraded after the last trading session.
(Updated on May 03, 2024)
No changes to the price of Joby Aviation stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 5.09% from a day low at $5.30 to a day high of $5.57. The price has risen in 7 of the last 10 days and is up by 18.5% over the past 2 weeks.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $5.36, a level that may pose a second chance to hit a runner. According to fan-theory $6.37 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
JOBY Signals & Forecast
The Joby Aviation 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 $5.24 and $5.01. 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 Thursday, May 02, 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 Joby Aviation stock
Joby Aviation finds support from accumulated volume at $5.35 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 $0.270 between high and low, or 5.09%. For the last week, the stock has had daily average volatility of 6.15%.
Our recommended stop-loss: $5.19 (-3.56%) (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 (JOBY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Joby Aviation, Inc. to open at $5.42, and during the day (based on 14 day Average True Range), to move between $5.13 and $5.63, which gives a possible trading interval of +/-$0.253 (+/-4.70%) up or down from last closing price. If Joby Aviation, Inc. takes out the full calculated possible swing range there will be an estimated 9.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.35 (0.56%) than the resistance at $5.42 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Joby Aviation, Inc. stock A Buy?
Joby Aviation 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: 0.847 Hold/Accumulate Downgraded
Predicted Opening Price for Joby Aviation, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.42 ( 0.682%) | $5.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JOBY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.69 | 5.70 % | |
| R2 | 5.58 | 3.78 % | ||
| R1 | 5.52 | 2.60 % | ||
| Current price: | 5.38 | |||
| Support | S1 | 5.31 | -1.24 % | |
| S2 | 5.25 | -2.42 % | ||
| S3 | 5.15 | -4.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.31 | 17.29 % | |
| R2 | 5.46 | 1.49 % | ||
| R1 | 5.42 | 0.743 % | ||
| Current price | 5.38 | |||
| Support | S1 | 5.35 | -0.558% | |
| S2 | 5.22 | -2.97% | ||
| S3 | 5.14 | -4.46% |
FAQ
Click here for our free guide on how to buy Joby Aviation Stock.
