Donegal Group Stock Forecast
Donegal Group stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)
The Donegal Group stock price gained 2.79% on the last trading day (Friday, 19th Apr 2024), rising from $13.64 to $14.02. During the last trading day the stock fluctuated 3.91% from a day low at $13.55 to a day high of $14.08. The price has fallen in 7 of the last 10 days but is still up by 1.82% 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, 19 thousand more shares were traded than the day before. In total, 59 thousand shares were bought and sold for approximately $827.10 thousand.
Given the current short-term trend, the stock is expected to fall -9.14% during the next 3 months and, with a 90% probability hold a price between $11.49 and $12.74 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DGICA Signals & Forecast
The Donegal Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.50 and $13.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 6.05%. Further rise is indicated until a new top pivot has been found. Donegal Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Donegal Group stock
Donegal Group finds support from accumulated volume at $13.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.530 between high and low, or 3.91%. For the last week the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: $13.27 (-5.31%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (DGICA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Donegal Group to open at $13.88, and during the day (based on 14 day Average True Range), to move between $13.71 and $14.33, which gives a possible trading interval of +/-$0.313 (+/-2.23%) up or down from last closing price. If Donegal Group takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.04 (0.14%) than the support at $13.97 (0.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Donegal Group will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.200. We will update the financials statements for Donegal Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.37% in the first trading day after earnings release.
Is Donegal Group stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.009 Buy Candidate Upgraded
Predicted Opening Price for Donegal Group of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $13.88 ( 0.97%) | $14.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGICA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.41 | 2.81 % | |
| R2 | 14.21 | 1.36 % | ||
| R1 | 14.09 | 0.469 % | ||
| Current price: | 14.02 | |||
| Support | S1 | 13.68 | -2.42 % | |
| S2 | 13.56 | -3.31 % | ||
| S3 | 13.35 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.01 | 7.06 % | |
| R2 | 14.20 | 1.28 % | ||
| R1 | 14.04 | 0.143 % | ||
| Current price | 14.02 | |||
| Support | S1 | 13.97 | -0.357% | |
| S2 | 13.72 | -2.14% | ||
| S3 | 13.40 | -4.42% |
DGICA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 21, 2023 | Jan 31, 2024 | Feb 15, 2024 | $0.170 | 1.13% |
| 2 | Oct 19, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.170 | 1.19% |
| 3 | Jul 20, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.170 | 1.14% |
| 4 | Apr 20, 2023 | Apr 28, 2023 | May 15, 2023 | $0.170 | 1.18% |
| 5 | Dec 15, 2022 | Jan 31, 2023 | Feb 15, 2023 | $0.165 | 1.09% |
FAQ
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