JLG INDUSTRIES INC Forecast and Stock Analysis
Technical JLG.L stock analysis for Wednesday May 22, 2019.
JLG INDUSTRIES INC fell by -0.88% in the last day ( Wednesday, 22nd May 2019 ) from £388.00 to £384.60 During day the stock fluctuated 1.20% from a day low at £384.60 to a day high of £389.20. The price has risen in 6 of the last 10 days and is up by 0.68% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -145 153 shares and in total 751 771 shares bought and sold for approximately £289.13 million.
- 30 day high of the JLG.L stock price was £397.20 and low was £373.20.
- 90 day high was £403.40 and low was £368.60.
- 52 week high for the JLG INDUSTRIES INC - £403.40 and low - £263.20.
Given the current horizontal trend you can expect JLG INDUSTRIES INC with 90% probability to be traded between £376.07 and £402.34 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Monday May 20, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. JLG INDUSTRIES INC holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £385.46 and £388.28. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 53 and the stock is currently not being overbought or oversold
Support & Resistance
JLG INDUSTRIES INC finds support from accumulated volume at £384.40.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £4.60 (1.20%) between high and low. For the last week, the stock has had a daily average volatility of 1.61%.
Our recommended stoploss: £361.97 (-5.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
1.61 %Average volatility
Very Low Low Medium High Very High
JLG INDUSTRIES INC holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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