Dawson Geophysical Company Stock Forecast

Green day on Thursday for Dawson Geophysical Company
(Updated on Apr 18, 2024)

DWSN Signals & Forecast

Mostly positive signals in the chart today. The Dawson Geophysical Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.93 and $1.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 71.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Dawson Geophysical Company 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.

Support, Risk & Stop-loss for Dawson Geophysical Company stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.97 and $1.90. 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, Dawson Geophysical Company finds support just below today's level at $1.97. If this is broken, then the next support from accumulated volume will be at $1.90 and $1.71.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.120 between high and low, or 5.80%. For the last week, the stock has had daily average volatility of 12.99%.

The Dawson Geophysical Company stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $2.12 (-3.36%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)

Trading Expectations (DWSN) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Dawson Geophysical Company to open at $2.15, and during the day (based on 14 day Average True Range), to move between $2.04 and $2.34, which gives a possible trading interval of +/-$0.154 (+/-7.05%) up or down from last closing price. If Dawson Geophysical Company takes out the full calculated possible swing range there will be an estimated 14.10% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $1.97, some $0.220 (10.05%) from the current price of $2.19, our system finds the risk reward attractive.

Is Dawson Geophysical Company stock A Buy?

Dawson Geophysical Company holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 5.525 Strong Buy Candidate Unchanged

Predicted Opening Price for Dawson Geophysical Company of Friday, April 19, 2024

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