Dole PLC Stock Forecast
Weaker technical forecast for Dole PLC as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Dole PLC stock price gained 0.627% on the last trading day (Friday, 17th May 2024), rising from $12.75 to $12.83. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.50% from a day low at $12.67 to a day high of $12.86. The price has risen in 6 of the last 10 days and is up by 3.14% over the past 2 weeks. Volume fell on the last day by -303 thousand shares and in total, 1 million shares were bought and sold for approximately $13.11 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $12.89 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.56% during the next 3 months and, with a 90% probability hold a price between $13.25 and $14.26 at the end of this 3-month period.
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DOLE Signals & Forecast
The Dole PLC 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 $12.49 and $12.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 12.05%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Dole PLC stock
Dole PLC finds support from accumulated volume at $12.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.190 between high and low, or 1.50%. For the last week the stock has had daily average volatility of 2.77%.
Our recommended stop-loss: $12.38 (-3.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (DOLE) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Dole PLC to open at $12.79, and during the day (based on 14 day Average True Range), to move between $12.58 and $13.08, which gives a possible trading interval of +/-$0.255 (+/-1.98%) up or down from last closing price. If Dole PLC takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $12.72, some $0.110 (0.86%) from the current price of $12.83, our system finds the risk reward attractive.
Is Dole PLC stock A Buy?
Dole PLC 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Dole PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $12.79 ( 0.338%) | $12.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOLE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.98 | 1.14 % | |
| R2 | 12.90 | 0.577 % | ||
| R1 | 12.86 | 0.228 % | ||
| Current price: | 12.83 | |||
| Support | S1 | 12.71 | -0.90 % | |
| S2 | 12.67 | -1.25 % | ||
| S3 | 12.60 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.83 | |||
| Support | S1 | 12.72 | -0.86% | |
| S2 | 12.44 | -3.04% | ||
| S3 | 11.81 | -7.95% |
DOLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | Jun 12, 2024 | Jul 05, 2024 | $0.0800 | 0.624% |
| 2 | Feb 28, 2024 | Mar 20, 2024 | Apr 04, 2024 | $0.0800 | 0.690% |
| 3 | Nov 15, 2023 | Dec 13, 2023 | Jan 04, 2024 | $0.0800 | 0.641% |
| 4 | Aug 16, 2023 | Sep 13, 2023 | Oct 05, 2023 | $0.0800 | 0.693% |
| 5 | May 17, 2023 | Jun 15, 2023 | Jul 06, 2023 | $0.0800 | 0.621% |
FAQ
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