Jushi Holdings Inc Stock Forecast
Volatile ride for Jushi Holdings Inc stock price on Wednesday moving between $0.650 and $0.720
(Updated on Apr 17, 2024)
The Jushi Holdings Inc stock price gained 7.91% on the last trading day (Wednesday, 17th Apr 2024), rising from $0.650 to $0.702. During the last trading day the stock fluctuated 10.77% from a day low at $0.650 to a day high of $0.720. The price has fallen in 6 of the last 10 days and is down by -8.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 136 thousand shares were bought and sold for approximately $95.59 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 -10.36% during the next 3 months and, with a 90% probability hold a price between $0.484 and $0.81 at the end of this 3-month period.
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JUSHF Signals & Forecast
The Jushi Holdings Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.669 and $0.682. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 20.20%. Further rise is indicated until a new top pivot has been found. Jushi Holdings 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Jushi Holdings Inc stock
Jushi Holdings Inc finds support from accumulated volume at $0.683 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 $0.0700 between high and low, or 10.77%. For the last week, the stock has had daily average volatility of 12.01%.
Our recommended stop-loss: $0.673 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (JUSHF) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Jushi Holdings Inc to open at $0.691, and during the day (based on 14 day Average True Range), to move between $0.624 and $0.779, which gives a possible trading interval of +/-$0.0775 (+/-11.05%) up or down from last closing price. If Jushi Holdings Inc takes out the full calculated possible swing range there will be an estimated 22.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.683 (2.71%) than the resistance at $0.770 (9.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jushi Holdings Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.150 Buy Candidate Upgraded
Predicted Opening Price for Jushi Holdings Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $0.691 ( 1.57%) | $0.702 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JUSHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.761 | 8.41 % | |
| R2 | 0.734 | 4.60 % | ||
| R1 | 0.717 | 2.24 % | ||
| Current price: | 0.702 | |||
| Support | S1 | 0.664 | -5.38 % | |
| S2 | 0.647 | -7.73 % | ||
| S3 | 0.621 | -11.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.86 | 22.59 % | |
| R2 | 0.80 | 14.20 % | ||
| R1 | 0.770 | 9.76 % | ||
| Current price | 0.702 | |||
| Support | S1 | 0.683 | -2.71% | |
| S2 | 0.674 | -3.95% | ||
| S3 | 0.610 | -13.04% |
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