JELD-WEN Holding Inc Stock Forecast
JELD-WEN Holding Inc stock downgraded from Strong Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The JELD-WEN Holding Inc stock price gained 3.16% on the last trading day (Thursday, 28th Mar 2024), rising from $20.58 to $21.23. During the last trading day the stock fluctuated 4.65% from a day low at $20.66 to a day high of $21.62. The price has risen in 6 of the last 10 days and is up by 14.32% 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, 700 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $24.34 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $20.64, a level that may pose a second chance to hit a runner. According to fan-theory $23.22 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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JELD Signals & Forecast
The JELD-WEN Holding 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 $20.39 and $18.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 20.22%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for JELD-WEN Holding Inc stock
JELD-WEN Holding Inc finds support from accumulated volume at $20.54 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 $0.96 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 2.76%.
The JELD-WEN Holding Inc stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $20.34 (-4.19%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (JELD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect JELD-WEN Holding Inc to open at $21.17, and during the day (based on 14 day Average True Range), to move between $20.62 and $21.84, which gives a possible trading interval of +/-$0.606 (+/-2.85%) up or down from last closing price. If JELD-WEN Holding Inc takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.54, some $0.690 (3.25%) from the current price of $21.23, our system finds the risk reward attractive.
Is JELD-WEN Holding Inc stock A Buy?
JELD-WEN Holding Inc 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 Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for JELD-WEN Holding Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$21.17 ( 0.283%) | $21.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JELD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.13 | 4.24 % | |
R2 | 21.76 | 2.51 % | ||
R1 | 21.54 | 1.44 % | ||
Current price: | 21.23 | |||
Support | S1 | 20.80 | -2.01 % | |
S2 | 20.58 | -3.08 % | ||
S3 | 20.21 | -4.80 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 21.23 | |||
Support | S1 | 20.54 | -3.25% | |
S2 | 18.20 | -14.27% | ||
S3 | 17.96 | -15.40% |
FAQ
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