Drew Industries Incorporated ($0.01 Par Stock Forecast

A very strong day for Drew Industries Incorporated ($0.01 Par stock price on Wednesday
(Updated on May 08, 2024)

LCII Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 7.62%. 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). 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 Drew Industries Incorporated ($0.01 Par 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 $111.39. On a fall, the stock will find some support from the short-term average at $106.13. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should go up by 4.21% to $115.88 within 10 trading days since signal was issued (Thursday, May 09, 2024).

Support, Risk & Stop-loss for Drew Industries Incorporated ($0.01 Par stock

Drew Industries Incorporated ($0.01 Par finds support from accumulated volume at $110.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.25 (5.80%) between high and low. For the last week, the stock has had daily average volatility of 3.13%.

Our recommended stop-loss: $107.02 (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (LCII) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Drew Industries Incorporated ($0.01 Par Value) to open at $110.93, and during the day (based on 14 day Average True Range), to move between $107.56 and $114.84, which gives a possible trading interval of +/-$3.64 (+/-3.27%) up or down from last closing price. If Drew Industries Incorporated ($0.01 Par Value) takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $110.93 (0.24%) than the resistance at $114.90 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Drew Industries Incorporated ($0.01 Par Value) stock A Buy?

Drew Industries Incorporated ($0.01 Par holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.572 Hold/Accumulate Upgraded

Predicted Opening Price for Drew Industries Incorporated ($0.01 Par Value) of Thursday, May 9, 2024

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