JTEKT India Ltd 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 Friday for JTEKT India Ltd
(Updated on May 24, 2024)
The JTEKT India Ltd stock price fell by -0.639% on the last day (Friday, 24th May 2024) from ₹164.35 to ₹163.30. During the last trading day the stock fluctuated 1.63% from a day low at ₹162.10 to a day high of ₹164.75. The price has been going up and down for this period, and there has been a -0.4% loss for the last 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 11 thousand shares were bought and sold for approximately ₹1.72 million.
The stock lies in the middle of a wide and strong 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 10.10% during the next 3 months and, with a 90% probability hold a price between ₹170.58 and ₹212.55 at the end of this 3-month period.
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JTEKTINDIA.BO Signals & Forecast
There are few to no technical positive signals at the moment. The JTEKT India Ltd 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 ₹164.47 and ₹172.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -10.42%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for JTEKT India Ltd stock
JTEKT India Ltd finds support from accumulated volume at ₹163.20 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 ₹2.65 between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JTEKTINDIA.BO) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect JTEKT India Ltd to open at ₹163.38, and during the day (based on 14 day Average True Range), to move between ₹157.52 and ₹169.08, which gives a possible trading interval of +/-₹5.78 (+/-3.54%) up or down from last closing price. If JTEKT India Ltd takes out the full calculated possible swing range there will be an estimated 7.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹163.20 (0.06%) than the resistance at ₹174.45 (6.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
JTEKT India Ltd will release earnings BMO on Thursday, May 30, 2024. We will update the financials statements for JTEKT India Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.66% in the first trading day after earnings release.
Is JTEKT India Ltd stock A Buy?
The JTEKT India Ltd stock holds several negative signals and despite the positive trend, we believe JTEKT India Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.736 Sell Candidate Unchanged
Predicted Opening Price for JTEKT India Ltd of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹163.38 ( 0.0510%) | ₹163.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JTEKTINDIA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.03 | 1.67 % | |
| R2 | 165.02 | 1.05 % | ||
| R1 | 164.40 | 0.671 % | ||
| Current price: | 163.30 | |||
| Support | S1 | 162.37 | -0.569 % | |
| S2 | 161.75 | -0.95 % | ||
| S3 | 160.73 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 182.30 | 11.64 % | |
| R2 | 175.95 | 7.75 % | ||
| R1 | 174.45 | 6.83 % | ||
| Current price | 163.30 | |||
| Support | S1 | 163.20 | -0.0612% | |
| S2 | 160.10 | -1.96% | ||
| S3 | 152.40 | -6.67% |
JTEKTINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Sep 10, 2023 | ₹0.500 | 0.335% |
| 2 | Aug 11, 2022 | Aug 11, 2022 | Sep 25, 2022 | ₹0.400 | 0.416% |
| 3 | Aug 14, 2017 | Aug 14, 2017 | Sep 02, 2017 | ₹0.500 | 0.442% |
| 4 | Jul 28, 2016 | Jul 28, 2016 | Jul 28, 2016 | ₹0.500 | 1.00% |
| 5 | Sep 04, 2015 | Sep 04, 2015 | Sep 04, 2015 | ₹0.650 | 1.07% |
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