Digi International Inc. Stock Forecast
Red day on Wednesday for Digi International Inc. stock after losing 0.528%
(Updated on Apr 17, 2024)
The Digi International Inc. stock price fell by -0.528% on the last day (Wednesday, 17th Apr 2024) from $30.32 to $30.16. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.82% from a day low at $30.15 to a day high of $30.70. The price has fallen in 6 of the last 10 days and is down by -5.84% for this period. Volume has increased on the last day by 5 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 165 thousand shares were bought and sold for approximately $4.96 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.10% during the next 3 months and, with a 90% probability hold a price between $35.46 and $40.43 at the end of this 3-month period.
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DGII Signals & Forecast
There are few to no technical positive signals at the moment. The Digi International Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $30.99 and $30.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -8.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Digi International Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $28.52 and $27.68. 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, Digi International Inc. finds support just below today's level at $28.52. If this is broken, then the next support from accumulated volume will be at $27.68 and $24.31.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.550 between high and low, or 1.82%. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DGII) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Digi International Inc. to open at $30.34, and during the day (based on 14 day Average True Range), to move between $29.23 and $31.09, which gives a possible trading interval of +/-$0.93 (+/-3.09%) up or down from last closing price. If Digi International Inc. takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.26 (0.33%) than the support at $28.52 (5.44%), 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 Digi International Inc. stock A Buy?
The Digi International Inc. stock holds several negative signals and despite the positive trend, we believe Digi International Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.704 Sell Candidate Unchanged
Predicted Opening Price for Digi International Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $30.34 ( 0.586%) | $30.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.89 | 2.41 % | |
| R2 | 30.68 | 1.71 % | ||
| R1 | 30.55 | 1.28 % | ||
| Current price: | 30.16 | |||
| Support | S1 | 30.13 | -0.111 % | |
| S2 | 30.00 | -0.541 % | ||
| S3 | 29.79 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.62 | 1.53 % | |
| R2 | 30.57 | 1.36 % | ||
| R1 | 30.26 | 0.332 % | ||
| Current price | 30.16 | |||
| Support | S1 | 28.52 | -5.44% | |
| S2 | 27.68 | -8.22% | ||
| S3 | 24.31 | -19.40% |
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