Dover Corporation Stock Forecast
Dover Corporation stock price down 0.81% on Wednesday
(Updated on May 01, 2024)
The Dover Corporation stock price fell by -0.81% on the last day (Wednesday, 1st May 2024) from $179.30 to $177.85. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.63% from a day low at $176.73 to a day high of $179.61. The price has been going up and down for this period, and there has been a 4.93% gain for the last 2 weeks. Volume has increased on the last day by 43 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, 2 million shares were bought and sold for approximately $307.05 million.
The stock lies in the middle of a 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 10.70% during the next 3 months and, with a 90% probability hold a price between $189.51 and $200.40 at the end of this 3-month period.
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DOV Signals & Forecast
The Dover Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $177.17 and $174.78. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found. 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 Dover Corporation stock
Dover Corporation finds support from accumulated volume at $177.22 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 $2.88 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: $172.13 (-3.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (DOV) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Dover Corporation to open at $178.07, and during the day (based on 14 day Average True Range), to move between $174.68 and $181.02, which gives a possible trading interval of +/-$3.17 (+/-1.78%) up or down from last closing price. If Dover Corporation takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $177.90 (0.03%) than the support at $177.22 (0.35%), 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 Dover Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Dover Corporation stock to perform well in the short-term.
Current score: 2.213 Buy Candidate Unchanged
Predicted Opening Price for Dover Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $178.07 ( 0.121%) | $177.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 180.95 | 1.74 % | |
| R2 | 179.85 | 1.12 % | ||
| R1 | 179.17 | 0.740 % | ||
| Current price: | 177.85 | |||
| Support | S1 | 176.96 | -0.498 % | |
| S2 | 176.28 | -0.88 % | ||
| S3 | 175.18 | -1.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 179.30 | 0.82 % | |
| R2 | 179.11 | 0.708 % | ||
| R1 | 177.90 | 0.0281 % | ||
| Current price | 177.85 | |||
| Support | S1 | 177.22 | -0.354% | |
| S2 | 175.53 | -1.30% | ||
| S3 | 159.99 | -10.04% |
DOV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.510 | 0.291% |
| 2 | Nov 02, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.510 | 0.335% |
| 3 | Aug 03, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.510 | 0.353% |
| 4 | May 05, 2023 | May 30, 2023 | Jun 15, 2023 | $0.505 | 0.343% |
| 5 | Feb 10, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.505 | 0.360% |
FAQ
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