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- 3/15/2024 -
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Jack Henry & Associates (JKHY) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance lineBroken trend support line
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldPrice is close to the 50 Day Moving AverageBullish Meeting Lines CandlestickPrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was the negative week for the Jack Henry & Associates (JKHY). During the week, the JKHY dropped -3.70 points, or -2.12%, and closed at 170.95 on Friday, March 15, 2024. Weekly volume was -36% below average.

JKHY is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See JKHY long-term trend chart]
A long-term downtrend had started on August 10, 2022 at 212.62 and reached 136.57 on October 27, 2023. JKHY lost 76.05 points, or 35.77%, in 63 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (134.95) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See JKHY medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 136.57 and reached 178.37 on February 12, 2024. JKHY gained -41.80 points, or -30.61%, in 15 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (173.95) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. JKHY may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See JKHY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See JKHY short-term trend chart]
A short-term downtrend had started on February 23, 2024 at 176.83 and reached 169.02 on March 15, 2024. JKHY lost 7.81 points, or 4.42%, in 21 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See JKHY daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since February 27, 2024. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.07%) is close to one year low (2.79%). It is 68.40% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See JKHY candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.98
Williams' Percentage Range (W%R) 100.00
Strong Oversold
Lane's Stochastic (%D-Slow) 22.69
Greed/Fear Indicator (GFI) 20.56
Moving Average Converg./Diverg. (MACD) 0.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.31
Williams' Percentage Range (W%R) 22.40
Lane's Stochastic (%D-Slow) 73.13
Greed/Fear Indicator (GFI) 67.83
Moving Average Converg./Diverg. (MACD) 2.90
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 178.67
Upper Bollinger Band 175.06
Parabolic System 174.84
Quarterly Trendline Support 173.95
Weekly Stochastic Crossing 173.21
20 Day Moving Average 173.21
Price 170.95
Daily Stochastic Crossing 170.47
50 Day Moving Average 170.45
Lower Bollinger Band 169.80
Yearly Trendline Resistance 148.90
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Data Processing & Outsourced Services 73
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 176.67
High Date 03/08/2024
Low 169.02
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 176.83
High Date 02/23/2024
Low 169.02
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 178.37
High Date 02/12/2024
Low 169.02
Low Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 178.67
Support 173.95
Low 136.57
Low Date 10/27/2023
High 178.37
High Date 02/12/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 148.90
Support 134.95
High 212.62
High Date 08/10/2022
Low 136.57
Low Date 10/27/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.