Driven Brands Holdings Inc. Stock Forecast
Evaluation of Driven Brands Holdings Inc. stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Driven Brands Holdings Inc. stock price fell by -4.17% on the last day (Tuesday, 7th May 2024) from $12.00 to $11.50. During the last trading day the stock fluctuated 6.28% from a day low at $11.46 to a day high of $12.18. The price has fallen in 6 of the last 10 days and is down by -23.59% 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 -201 thousand shares and in total, 2 million shares were bought and sold for approximately $19.21 million.
Given the current horizontal trend, you can expect Driven Brands Holdings Inc. stock with a 90% probability to be traded between $11.65 and $16.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DRVN Signals & Forecast
There are few to no technical positive signals at the moment. The Driven Brands Holdings 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 $12.90 and $14.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -27.17%. 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 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 Driven Brands Holdings Inc. 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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.720 between high and low, or 6.28%. For the last week, the stock has had daily average volatility of 11.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRVN) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Driven Brands Holdings Inc. to open at $11.71, and during the day (based on 14 day Average True Range), to move between $10.76 and $12.24, which gives a possible trading interval of +/-$0.745 (+/-6.48%) up or down from last closing price. If Driven Brands Holdings Inc. takes out the full calculated possible swing range there will be an estimated 12.95% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $11.59, some $0.0900 (0.78%) from the current price of $11.50, our system finds the risk reward not very attractive.
Is Driven Brands Holdings Inc. stock A Buy?
Driven Brands Holdings Inc. holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.211 Strong Sell Candidate Downgraded
Predicted Opening Price for Driven Brands Holdings Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $11.71 ( 1.86%) | $11.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRVN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.43 | 8.12 % | |
| R2 | 12.16 | 5.72 % | ||
| R1 | 11.99 | 4.25 % | ||
| Current price: | 11.50 | |||
| Support | S1 | 11.44 | -0.537 % | |
| S2 | 11.27 | -2.01 % | ||
| S3 | 10.99 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.94 | 12.52 % | |
| R2 | 11.69 | 1.65 % | ||
| R1 | 11.59 | 0.783 % | ||
| Current price | 11.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
DRVN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2016 | Mar 31, 2016 | Apr 07, 2016 | $0.230 | 0% |
| 2 | Dec 31, 2015 | Dec 31, 2015 | Jan 08, 2016 | $0.0800 | 0% |
| 3 | Sep 30, 2015 | Sep 30, 2015 | Oct 07, 2015 | $0.100 | 0% |
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