Diamondrock Hospitality Company Stock Forecast
Diamondrock Hospitality Company stock price ended at $8.72 on Tuesday, after losing 1.13%.
(Updated on May 07, 2024)
The Diamondrock Hospitality Company stock price fell by -1.13% on the last day (Tuesday, 7th May 2024) from $8.82 to $8.72. During the last trading day the stock fluctuated 2.89% from a day low at $8.66 to a day high of $8.91. The price has fallen in 7 of the last 10 days and is down by -4.7% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -289 thousand shares and in total, 2 million shares were bought and sold for approximately $19.97 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.55 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.96% during the next 3 months and, with a 90% probability hold a price between $8.21 and $9.21 at the end of this 3-month period.
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DRH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Diamondrock Hospitality Company 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 $8.86 and $9.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.42%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Diamondrock Hospitality Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.250 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRH) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Diamondrock Hospitality Company to open at $8.76, and during the day (based on 14 day Average True Range), to move between $8.48 and $8.96, which gives a possible trading interval of +/-$0.237 (+/-2.71%) up or down from last closing price. If Diamondrock Hospitality Company takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $8.77, some $0.0500 (0.57%) from the current price of $8.72, our system finds the risk reward not very attractive.
Is Diamondrock Hospitality Company stock A Buy?
Diamondrock Hospitality Company holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.340 Sell Candidate Unchanged
Predicted Opening Price for Diamondrock Hospitality Company of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $8.76 ( 0.497%) | $8.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.01 | 3.36 % | |
| R2 | 8.92 | 2.27 % | ||
| R1 | 8.86 | 1.59 % | ||
| Current price: | 8.72 | |||
| Support | S1 | 8.67 | -0.598 % | |
| S2 | 8.61 | -1.27 % | ||
| S3 | 8.51 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.31 | 6.77 % | |
| R2 | 8.78 | 0.688 % | ||
| R1 | 8.77 | 0.573 % | ||
| Current price | 8.72 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
DRH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0300 | 0.323% |
| 2 | Dec 01, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.0300 | 0.317% |
| 3 | Sep 06, 2023 | Sep 28, 2023 | Oct 12, 2023 | $0.0300 | 0.371% |
| 4 | Jun 01, 2023 | Jun 29, 2023 | Jul 12, 2023 | $0.0300 | 0.365% |
| 5 | Mar 02, 2023 | Mar 30, 2023 | Apr 12, 2023 | $0.0300 | 0.372% |
FAQ
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