Jushi Holdings Inc Stock Forecast
Big movements in Jushi Holdings Inc stock price on Tuesday moving 43.75% between high and low
(Updated on Apr 30, 2024)
The Jushi Holdings Inc stock price gained 31.82% on the last trading day (Tuesday, 30th Apr 2024), rising from $0.660 to $0.87. During the last trading day the stock fluctuated 43.75% from a day low at $0.640 to a day high of $0.92. The price has risen in 6 of the last 10 days and is up by 33.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $1.13 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.84, a level that may pose a second chance to hit a runner. According to fan-theory $1.19 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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JUSHF Signals & Forecast
Mostly positive signals in the chart today. The Jushi Holdings Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.691 and $0.689. 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 49.07%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Jushi Holdings Inc stock
Jushi Holdings Inc finds support from accumulated volume at $0.86 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 $0.280 between high and low, or 43.75%. For the last week, the stock has had daily average volatility of 15.22%.
Our recommended stop-loss: $0.84 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (JUSHF) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Jushi Holdings Inc to open at $0.81, and during the day (based on 14 day Average True Range), to move between $0.788 and $0.95, which gives a possible trading interval of +/-$0.0816 (+/-9.38%) up or down from last closing price. If Jushi Holdings Inc takes out the full calculated possible swing range there will be an estimated 18.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.86 (1.15%) than the resistance at $0.92 (5.76%), 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?
Jushi Holdings Inc holds several positive signals and the break up from the falling trend indicates a possible shift of trend as well. The trend doesn't have to go from falling to rising, it may as well go horizontal or even just decrease the earlier fall rate, but we find the risk-reward to be attractive and expect the stock to perform very well in the short term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.768 Strong Buy Candidate Upgraded
Predicted Opening Price for Jushi Holdings Inc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $0.81 ( 6.90%) | $0.87 |
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 | 1.09 | 25.29 % | |
| R2 | 0.98 | 12.99 % | ||
| R1 | 0.92 | 5.40 % | ||
| Current price: | 0.87 | |||
| Support | S1 | 0.703 | -19.19 % | |
| S2 | 0.637 | -26.79 % | ||
| S3 | 0.530 | -39.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.98 | 12.53 % | |
| R2 | 0.96 | 10.38 % | ||
| R1 | 0.92 | 5.76 % | ||
| Current price | 0.87 | |||
| Support | S1 | 0.86 | -1.15% | |
| S2 | 0.683 | -21.55% | ||
| S3 | 0.674 | -22.55% |
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