Friday May 17, 2019 Change -1.10% Price $8.06
Chart period: 2019-02-19 - 2019-05-17
VOLUME
Buy
TREND
Buy
MV LONG
Buy

MV SHORT
Sell

PIVOT
Sell

MACD
Buy

Will MJCO stock price go up or down on Mon, 20 May 2019?

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Majesco Forecast and Stock Analysis

Technical MJCO stock analysis for Friday May 17, 2019.

Hold candidate since 2019-05-17
Shorts n/a
Insider % 1.20%
Institutional % 4.00%
Beta 0.64
ROA 5.66%
Price to book USD 3.53
P/E Ratio 43.69
Next Earnings Date n/a


Majesco fell by -1.10% in the last day ( Friday, 17th May 2019 ) from $8.15 to $8.06 During day the stock fluctuated 2.96% from a day low at $7.92 to a day high of $8.15. The price has been going up and down for this period, and there has been a -0.62% loss for the last 2 weeks. Volume has increased in the last day by 604 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 10 756 shares bought and sold for approximately $86 693.40.

Quick summary:

  • 30 day high of the MJCO stock price was $8.49 and low was $7.50.
  • 90 day high was $8.49 and low was $6.87.
  • 52 week high for the Majesco - $9.27 and low - $5.40.

Trend

Majesco lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.76% during the next 3 months and, with 90% probability hold a price between $8.30 and $9.60 at the end of this period.

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Signals

There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday May 16, 2019, which indicates further falls until a new bottom pivot has been found. Majesco gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". The very low volume increases the risk and reduces the other technical signals issued. Majesco holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $8.08. On a fall, the stock will find some support from the long-term average at approximately $7.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.

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A buy signal from a double bottom formation was found on Thursday May 09, 2019 and based on theory for this formation the price should go up by 0.18% to $8.23 within 2 trading days since signal was issued (Monday May 13, 2019).

Relative Strength Index (RSI)

RSI14 is 54 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $7.34 and $7.27.

There is 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, Majesco finds support just below today's level at $7.34. If this is broken, then the next support from accumulated volume will be at $7.27 and $7.22.

Support: $7.34 Price: $8.06 Resistance: $8.24

Risk

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 $0.23 (2.96%) between high and low. For the last week, the stock has had a daily average volatility of 2.82%.

Our recommended stoploss: $7.76 (-3.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)

2.82 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Evaluation:

Majesco holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position 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.

Hold/Accumulate Downgraded
MJCO $8.06 ($-0.09 -1.10%)
MJCO is down $0.09 today, but where's it headed in 2019?
Zacks Investment Research is releasing its prediction for MJCO based on the 1-3 month system that more than doubles the S&P 500.

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Will MJCO stock price go up or down
on Mon, 20 May 2019?

Predict

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