Journey Energy 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
Red day on Wednesday for Journey Energy Inc.
(Updated on May 01, 2024)
The Journey Energy Inc. stock price fell by -2.49% on the last day (Wednesday, 1st May 2024) from $3.61 to $3.52. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 9.54% from a day low at $3.46 to a day high of $3.79. The price has risen in 5 of the last 10 days but is still down by -1.4% for this period. 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 -240 thousand shares and in total, 128 thousand shares were bought and sold for approximately $450.96 thousand.
The stock lies in the middle of a very 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 4.53% during the next 3 months and, with a 90% probability hold a price between $3.30 and $4.32 at the end of this 3-month period.
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JOY.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Journey Energy Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.77 and $3.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -10.20%. 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 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.
A sell signal from a double top formation was found on Monday, April 08, 2024 and based on theory for this formation the price should fall by -22.06% to $2.74 within 24 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Journey Energy Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.30 and $3.27. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Journey Energy Inc. finds support just below today's level at $3.30. If this is broken, then the next support from accumulated volume will be at $3.27 and $3.20.
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 $0.330 between high and low, or 9.54%. For the last week the stock has had daily average volatility of 5.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JOY.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Journey Energy Inc. to open at $3.59, and during the day (based on 14 day Average True Range), to move between $3.34 and $3.70, which gives a possible trading interval of +/-$0.180 (+/-5.13%) up or down from last closing price. If Journey Energy Inc. takes out the full calculated possible swing range there will be an estimated 10.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.61 (2.56%) than the support at $3.30 (6.25%), 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.
Earnings coming up
Journey Energy Inc. will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0500. We will update the financials statements for Journey Energy Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.68% in the first trading day after earnings release.
Is Journey Energy Inc. stock A Buy?
The Journey Energy Inc. stock holds several negative signals and despite the positive trend, we believe Journey Energy Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.177 Sell Candidate Unchanged
Predicted Opening Price for Journey Energy Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $3.59 ( 1.99%) | $3.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JOY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.92 | 11.36 % | |
| R2 | 3.79 | 7.78 % | ||
| R1 | 3.72 | 5.57 % | ||
| Current price: | 3.52 | |||
| Support | S1 | 3.46 | -1.59 % | |
| S2 | 3.39 | -3.81 % | ||
| S3 | 3.26 | -7.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.74 | 6.25 % | |
| R2 | 3.63 | 3.13 % | ||
| R1 | 3.61 | 2.56 % | ||
| Current price | 3.52 | |||
| Support | S1 | 3.30 | -6.25% | |
| S2 | 3.27 | -7.10% | ||
| S3 | 3.20 | -9.09% |
JOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2015 | Sep 28, 2015 | Oct 15, 2015 | $0.0400 | 1.94% |
| 2 | Jul 29, 2015 | Jul 29, 2015 | Aug 17, 2015 | $0.0250 | 1.13% |
| 3 | Jun 26, 2015 | Jun 26, 2015 | Jul 15, 2015 | $0.0250 | 0.676% |
| 4 | May 27, 2015 | May 27, 2015 | Jun 15, 2015 | $0.0250 | 0.602% |
| 5 | Apr 28, 2015 | Apr 28, 2015 | May 15, 2015 | $0.0250 | 0.540% |
FAQ
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