RSI low/high Values: [ 25 - 75 ]
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AI Analysis of DAC
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Stronger technical forecast for Danaos Corp stock price after Wednesday trading.
(Updated on Mar 27, 2024)

Buy candidate since Mar 27, 2024 PDF

The Danaos Corp stock price gained 0.778% on the last trading day (Wednesday, 27th Mar 2024), rising from $71.97 to $72.53. During the last trading day the stock fluctuated 1.04% from a day low at $72.04 to a day high of $72.79. The price has risen in 6 of the last 10 days and is up by 2.43% over the past 2 weeks. Volume fell on the last day by -38 thousand shares and in total, 54 thousand shares were bought and sold for approximately $3.90 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 the upper part of a falling 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 $72.82 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.92% during the next 3 months and, with a 90% probability hold a price between $61.70 and $66.32 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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DAC Signals & Forecast

Mostly positive signals in the chart today. The Danaos Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $71.61 and $71.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 4.18%. 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 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. The stock had a Golden Star Signal on Friday, March 22, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Friday, March 22, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Danaos Corp stock

Danaos Corp finds support from accumulated volume at $72.04 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 $0.750 between high and low, or 1.04%. For the last week the stock has had daily average volatility of 1.18%.

Our recommended stop-loss: $68.88 (-5.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (DAC) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Danaos Corp to open at $72.45, and during the day (based on 14 day Average True Range), to move between $71.28 and $73.78, which gives a possible trading interval of +/-$1.25 (+/-1.72%) up or down from last closing price. If Danaos Corp takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $72.04 (0.68%) than the resistance at $76.55 (5.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Danaos Corp stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.640 Buy Candidate Upgraded

Predicted Opening Price for Danaos Corp of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$72.45 ( 0.106%) $72.53

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

Trading levels for DAC

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 73.20 0.93 %
R2 72.92 0.533 %
R1 72.74 0.289 %
Current price: 72.53
Support S1 72.17 -0.501 %
S2 71.99 -0.745 %
S3 71.70 -1.14 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 79.37 9.43 %
R2 77.95 7.47 %
R1 76.55 5.54 %
Current price 72.53
Support S1 72.04 -0.676%
S2 71.30 -1.70%
S3 69.75 -3.83%

DAC Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 27, 2024 Feb 27, 2024 Mar 14, 2024 $0.80 1.14%
2 Nov 13, 2023 Nov 24, 2023 Dec 06, 2023 $0.80 1.16%
3 Aug 07, 2023 Aug 22, 2023 Sep 01, 2023 $0.750 1.11%
4 May 15, 2023 May 25, 2023 Jun 07, 2023 $0.750 1.17%
5 Feb 14, 2023 Feb 27, 2023 Mar 14, 2023 $0.750 1.35%

FAQ

What is the symbol for Danaos Corp Stock and on which exchange is it traded?
The symbol for Danaos Corp is DAC and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Danaos Corp Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Danaos Corp Stock?
Danaos Corp Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Danaos Corp Stock.

What's the current price of Danaos Corp Stock?
As of the end of day on the 2024-03-27, the price of an Danaos Corp (DAC) share was $72.53.

What is the 52-week high and low for Danaos Corp Stock?
The 52-week high for Danaos Corp Stock is $80.39 and the 52-week low is $52.46.

What is the market capitalization of Danaos Corp Stock?
As of the 2024-03-27, the market capitalization of Danaos Corp is 1.408B.

When is the next earnings date for Danaos Corp?
The upcoming earnings date for Danaos Corp is May 20, 2024.
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About Danaos Corp

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity. The company was formerly known as Danaos Holdings Limited and changed its name to Danao... DAC Profile

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