Daktronics Stock Forecast
Daktronics stock price ended on $5.32 on Tuesday after gaining 0.188%
(Updated on Mar 28, 2023)
The Daktronics stock price gained 0.188% on the last trading day (Tuesday, 28th Mar 2023), rising from $5.31 to $5.32. It has now gained 3 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 2.49% from a day low at $5.22 to a day high of $5.35. The price has risen in 7 of the last 10 days and is up by 14.9% over the past 2 weeks. Volume fell on the last day by -39 thousand shares and in total, 218 thousand shares were bought and sold for approximately $1.16 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.
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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 68.54% during the next 3 months and, with a 90% probability hold a price between $8.12 and $9.51 at the end of this 3-month period.
DAKT Signals & Forecast
The Daktronics 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 $5.22 and $4.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 09, 2023, and so far it has risen 36.76%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Daktronics stock
Daktronics finds support from accumulated volume at $5.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 2.49%. For the last week the stock has had daily average volatility of 4.28%.
Our recommended stop-loss: $5.17 (-2.90%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (DAKT) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Daktronics to open at $5.30, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.55, which gives a possible trading interval of +/-$0.232 (+/-4.37%) up or down from last closing price. If Daktronics takes out the full calculated possible swing range there will be an estimated 8.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.29, some $0.0300 (0.56%) from the current price of $5.32, our system finds the risk reward attractive.
Is Daktronics 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 Daktronics stock to perform well in the short-term.
Current score: 2.835 Open Broker Account
Buy Candidate UnchangedPredicted Opening Price for Daktronics of Wednesday, March 29, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 29, 2023 | Current price |
|---|---|
| $5.30 | $5.32 (Overvalued) |
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Trading levels for DAKT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.43 | 2.01 % | |
| R2 | 5.38 | 1.07 % | ||
| R1 | 5.35 | 0.495 % | ||
| Current price: | 5.32 | |||
| Support | S1 | 5.25 | -1.37 % | |
| S2 | 5.22 | -1.95 % | ||
| S3 | 5.17 | -2.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.32 | |||
| Support | S1 | 5.29 | -0.564% | |
| S2 | 4.83 | -9.21% | ||
| S3 | 4.01 | -24.62% |
FAQ
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About Daktronics
Daktronics, Inc. designs, manufactures, markets, and sells electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; indoor and outdoor light emitting diodes (LED) video displays, including centerhung, la... DAKT Profile
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featured in The Global Fintech Index 2020 as the top Fintech company of the country.
