Digital Ally Stock Forecast

Green day on Wednesday for Digital Ally stock after gaining 3.30%
(Updated on Apr 24, 2024)

DGLY Signals & Forecast

There are mixed signals in the stock today. The Digital Ally stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.42. On a fall, the stock will find some support from the short-term average at $2.16. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Digital Ally stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.04 and $2.02. There is a 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, Digital Ally finds support just below today's level at $2.04. If this is broken, then the next support from accumulated volume will be at $2.02 and $1.99.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0350 between high and low, or 1.62%. For the last week the stock has had daily average volatility of 4.37%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (DGLY) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Digital Ally to open at $2.18, and during the day (based on 14 day Average True Range), to move between $2.05 and $2.33, which gives a possible trading interval of +/-$0.137 (+/-6.25%) up or down from last closing price. If Digital Ally takes out the full calculated possible swing range there will be an estimated 12.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.04 (6.85%) than the resistance at $2.35 (7.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Digital Ally stock A Buy?

Digital Ally holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.599 Sell Candidate Unchanged

Predicted Opening Price for Digital Ally of Thursday, April 25, 2024

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