Jet.AI Inc. Stock Forecast
High volatility in Jet.AI Inc. stock price on Wednesday which ended trading at $0.698
(Updated on May 08, 2024)
The Jet.AI Inc. stock price gained 0.417% on the last trading day (Wednesday, 8th May 2024), rising from $0.695 to $0.698. During the last trading day the stock fluctuated 10.26% from a day low at $0.680 to a day high of $0.750. The price has risen in 7 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 308 thousand more shares were traded than the day before. In total, 488 thousand shares were bought and sold for approximately $340.88 thousand.
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 -19.15% during the next 3 months and, with a 90% probability hold a price between $0.411 and $0.84 at the end of this 3-month period.
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JTAI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Jet.AI Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jet.AI 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 $0.729 and $0.791. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -35.37%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Jet.AI Inc. stock
Jet.AI Inc. finds support from accumulated volume at $0.695 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 $0.0698 between high and low, or 10.26%. For the last week, the stock has had daily average volatility of 9.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JTAI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Jet.AI Inc. to open at $0.709, and during the day (based on 14 day Average True Range), to move between $0.633 and $0.763, which gives a possible trading interval of +/-$0.0651 (+/-9.33%) up or down from last closing price. If Jet.AI Inc. takes out the full calculated possible swing range there will be an estimated 18.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.695 (0.42%) than the resistance at $0.793 (13.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jet.AI Inc. stock A Buy?
Jet.AI Inc. holds several negative signals and is within a very wide and 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: -3.995 Sell Candidate Unchanged
Predicted Opening Price for Jet.AI Inc. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.709 ( 1.61%) | $0.698 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JTAI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.779 | 11.61 % | |
| R2 | 0.752 | 7.79 % | ||
| R1 | 0.736 | 5.43 % | ||
| Current price: | 0.698 | |||
| Support | S1 | 0.683 | -2.21 % | |
| S2 | 0.666 | -4.57 % | ||
| S3 | 0.639 | -8.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | 22.21 % | |
| R2 | 0.85 | 21.78 % | ||
| R1 | 0.793 | 13.67 % | ||
| Current price | 0.698 | |||
| Support | S1 | 0.695 | -0.415% | |
| S2 | 0.692 | -0.80% | ||
| S3 | 0.661 | -5.29% |
FAQ
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