Jerash Holdings (US) Inc. Stock Forecast
Red day on Tuesday for Jerash Holdings (US) Inc.
(Updated on Jul 02, 2024)
The Jerash Holdings (US) Inc. stock price fell by -0.683% on the last day (Tuesday, 2nd Jul 2024) from $2.93 to $2.91. During the last trading day the stock fluctuated 5.21% from a day low at $2.88 to a day high of $3.03. The price has fallen in 6 of the last 10 days and is down by -3.32% 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 -10 thousand shares and in total, 16 thousand shares were bought and sold for approximately $46.28 thousand.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $2.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Jerash Holdings (US) Inc. stock with a 90% probability to be traded between $2.85 and $3.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JRSH Signals & Forecast
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 Jerash Holdings (US) Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.00 and $3.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -7.62%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Jerash Holdings (US) Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.150 between high and low, or 5.21%. For the last week the stock has had daily average volatility of 4.27%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JRSH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Jerash Holdings (US) Inc. to open at $2.94, and during the day (based on 14 day Average True Range), to move between $2.83 and $2.99, which gives a possible trading interval of +/-$0.0832 (+/-2.86%) up or down from last closing price. If Jerash Holdings (US) Inc. takes out the full calculated possible swing range there will be an estimated 5.72% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.04, some $0.130 (4.47%) from the current price of $2.91, our system finds the risk reward not very attractive.
Is Jerash Holdings (US) Inc. stock A Buy?
Jerash Holdings (US) Inc. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.325 Sell Candidate Unchanged
Predicted Opening Price for Jerash Holdings (US) Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.94 ( 1.03%) | $2.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JRSH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.09 | 6.19% |
| R2 | 3.03 | 4.22% |
| R1 | 3.00 | 3.00% |
| Price | 2.91 | |
| S1 | 2.88 | -0.94% |
| S2 | 2.85 | -2.15% |
| S3 | 2.79 | -4.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.05 | 4.81% |
| R2 | 3.05 | 4.81% |
| R1 | 3.04 | 4.47% |
| Price | 2.91 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
JRSH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 31, 2024 | Jun 07, 2024 | $0.0500 | 1.65% |
| 2 | Feb 15, 2024 | Feb 15, 2024 | Feb 23, 2024 | $0.0500 | 1.64% |
| 3 | Nov 03, 2023 | Nov 13, 2023 | Nov 28, 2023 | $0.0500 | 1.69% |
| 4 | Aug 04, 2023 | Aug 15, 2023 | Aug 23, 2023 | $0.0500 | 1.47% |
| 5 | May 23, 2023 | Jun 01, 2023 | Jun 09, 2023 | $0.0500 | 1.20% |
FAQ
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