DRDGOLD Limited Stock Forecast
Strong day for DRDGOLD Limited stock price on Thursday rising 5.50% to $8.25
(Updated on Apr 25, 2024)
The DRDGOLD Limited stock price gained 5.50% on the last trading day (Thursday, 25th Apr 2024), rising from $7.82 to $8.25. During the last trading day the stock fluctuated 5.74% from a day low at $7.84 to a day high of $8.29. The price has fallen in 6 of the last 10 days and is down by -5.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 182 thousand more shares were traded than the day before. In total, 367 thousand shares were bought and sold for approximately $3.03 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 16.71% during the next 3 months and, with a 90% probability hold a price between $8.69 and $10.70 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DRD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 5.50%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DRDGOLD Limited 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 $8.26. On a fall, the stock will find some support from the short-term average at $8.20. 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).
Support, Risk & Stop-loss for DRDGOLD Limited stock
DRDGOLD Limited finds support from accumulated volume at $8.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.450 between high and low, or 5.74%. For the last week, the stock has had daily average volatility of 3.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect DRDGOLD Limited to open at $8.13, and during the day (based on 14 day Average True Range), to move between $7.88 and $8.62, which gives a possible trading interval of +/-$0.375 (+/-4.54%) up or down from last closing price. If DRDGOLD Limited takes out the full calculated possible swing range there will be an estimated 9.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.28 (0.36%) than the support at $8.02 (2.79%), 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 DRDGOLD Limited stock A Buy?
DRDGOLD Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.789 Sell Candidate Downgraded
Predicted Opening Price for DRDGOLD Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $8.13 ( 1.49%) | $8.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.58 | 3.96 % | |
| R2 | 8.40 | 1.88 % | ||
| R1 | 8.30 | 0.589 % | ||
| Current price: | 8.25 | |||
| Support | S1 | 7.95 | -3.58 % | |
| S2 | 7.85 | -4.87 % | ||
| S3 | 7.68 | -6.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.45 | 2.42 % | |
| R2 | 8.38 | 1.58 % | ||
| R1 | 8.28 | 0.364 % | ||
| Current price | 8.25 | |||
| Support | S1 | 8.02 | -2.79% | |
| S2 | 7.86 | -4.73% | ||
| S3 | 6.90 | -16.36% |
DRD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 07, 2024 | Mar 21, 2024 | $0.106 | 1.33% |
| 2 | Aug 25, 2023 | Sep 14, 2023 | Sep 28, 2023 | $0.346 | 4.14% |
| 3 | Feb 15, 2023 | Mar 09, 2023 | Mar 23, 2023 | $0.111 | 1.22% |
| 4 | Aug 26, 2022 | Sep 22, 2022 | Oct 06, 2022 | $0.238 | 4.18% |
| 5 | Feb 17, 2022 | Mar 10, 2022 | Mar 24, 2022 | $0.133 | 1.35% |
FAQ
Click here for our free guide on how to buy DRDGOLD Limited Stock.
