Duff & Phelps Utilities Income Inc Stock Forecast

Duff & Phelps Utilities Income Inc stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 17, 2024)

DNP Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.230%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Duff & Phelps Utilities Income Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $8.85 and $8.94. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, March 11, 2024 and based on theory for this formation the price should fall by -0.760% to $8.65 within 26 trading days since signal was issued (Thursday, April 18, 2024).

Support, Risk & Stop-loss for Duff & Phelps Utilities Income Inc stock

Duff & Phelps Utilities Income Inc finds support from accumulated volume at $8.65 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 $0.0787 between high and low, or 0.90%. For the last week the stock has had daily average volatility of 1.24%.

Duff & Phelps Utilities Income Inc is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $8.18 (-6.19%) (This stock has low daily movements and this gives low risk. Low RSI14 is 11 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (DNP) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Duff & Phelps Utilities Income Inc to open at $8.74, and during the day (based on 14 day Average True Range), to move between $8.63 and $8.81, which gives a possible trading interval of +/-$0.0925 (+/-1.06%) up or down from last closing price. If Duff & Phelps Utilities Income Inc takes out the full calculated possible swing range there will be an estimated 2.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.78 (0.69%) than the support at $8.65 (0.80%), 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.

Is Duff & Phelps Utilities Income Inc stock A Buy?

Duff & Phelps Utilities Income Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.848 Hold/Accumulate Upgraded

Predicted Opening Price for Duff & Phelps Utilities Income Inc of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.