The Joint Corp. Stock Forecast

Weaker technical forecast for The Joint Corp. as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)

JYNT Signals & Forecast

The The Joint Corp. 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 $12.15 and $12.24. A breakdown below any of these levels will issue sell signals. The Joint Corp. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -3.82%. 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). The stock had a Golden Star Signal on Friday, December 22, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for The Joint Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $11.88 and $10.41. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The Joint Corp. finds support just below today's level at $11.88. If this is broken, then the next support from accumulated volume will be at $10.41 and $10.00.

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 $0.365 between high and low, or 2.97%. For the last week, the stock has had daily average volatility of 2.95%.

Our recommended stop-loss: $11.98 (-4.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (JYNT) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect The Joint Corp. to open at $12.51, and during the day (based on 14 day Average True Range), to move between $12.11 and $13.07, which gives a possible trading interval of +/-$0.482 (+/-3.83%) up or down from last closing price. If The Joint Corp. takes out the full calculated possible swing range there will be an estimated 7.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $12.75 (1.27%) than the support at $11.88 (5.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is The Joint Corp. stock A Buy?

The Joint Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.095 Hold/Accumulate Downgraded

Predicted Opening Price for The Joint Corp. of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.