Majesco Forecast and Stock Analysis
Technical MJCO stock analysis for Friday May 17, 2019.
|Price to book||USD 3.53|
|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.
- 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.
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.
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.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
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.
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
Very Low Low Medium High Very High
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.
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|MJCO $8.06 ($-0.09 -1.10%)|
MJCO is down $0.09 today, but where's it headed in 2019?
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