DoorDash, Inc. Stock Forecast
Evaluation of DoorDash, Inc. stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The DoorDash, Inc. stock price gained 1.07% on the last trading day (Thursday, 25th Apr 2024), rising from $126.76 to $128.11. During the last trading day the stock fluctuated 3.11% from a day low at $124.32 to a day high of $128.19. The price has fallen in 6 of the last 10 days and is down by -9.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $684.48 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $127.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.52% during the next 3 months and, with a 90% probability hold a price between $157.12 and $179.61 at the end of this 3-month period.
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DASH Signals & Forecast
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 DoorDash, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $128.53 and $134.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -9.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for DoorDash, Inc. stock
DoorDash, Inc. finds support from accumulated volume at $126.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.87 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DASH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect DoorDash, Inc. to open at $126.87, and during the day (based on 14 day Average True Range), to move between $123.62 and $132.60, which gives a possible trading interval of +/-$4.49 (+/-3.50%) up or down from last closing price. If DoorDash, Inc. takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $126.27 (1.44%) than the resistance at $130.90 (2.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
DoorDash, Inc. will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0700. We will update the financials statements for DoorDash, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.81% in the first trading day after earnings release.
Is DoorDash, Inc. stock A Buy?
The DoorDash, Inc. stock holds several negative signals and despite the positive trend, we believe DoorDash, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.526 Sell Candidate Downgraded
Predicted Opening Price for DoorDash, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $126.87 ( 0.96%) | $128.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DASH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.74 | 2.05 % | |
| R2 | 129.26 | 0.90 % | ||
| R1 | 128.35 | 0.189 % | ||
| Current price: | 128.11 | |||
| Support | S1 | 125.40 | -2.12 % | |
| S2 | 124.48 | -2.83 % | ||
| S3 | 123.01 | -3.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.40 | 3.35 % | |
| R2 | 131.80 | 2.88 % | ||
| R1 | 130.90 | 2.18 % | ||
| Current price | 128.11 | |||
| Support | S1 | 126.27 | -1.44% | |
| S2 | 116.01 | -9.45% | ||
| S3 | 115.48 | -9.86% |
FAQ
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