Digital Brands Group, Inc. Common Stock Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Digital Brands Group, Inc. Common Stock stock price down 1.61% on Friday
(Updated on Apr 26, 2024)
The Digital Brands Group, Inc. Common Stock stock price fell by -1.61% on the last day (Friday, 26th Apr 2024) from $3.11 to $3.06. During the last trading day the stock fluctuated 7.56% from a day low at $3.01 to a day high of $3.24. The price has fallen in 6 of the last 10 days and is down by -27.32% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -45 thousand shares and in total, 21 thousand shares were bought and sold for approximately $63.65 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $2.38 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Digital Brands Group, Inc. Common Stock stock with a 90% probability to be traded between $2.40 and $6.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DBGI Signals & Forecast
There are mixed signals in the stock today. The Digital Brands Group, Inc. Common Stock stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.60. On a fall, the stock will find some support from the short-term average at $2.97. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, February 13, 2024, and so far it has fallen -55.33%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Digital Brands Group, Inc. Common Stock stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.73 and $2.61. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Digital Brands Group, Inc. Common Stock finds support just below today's level at $2.73. If this is broken, then the next support from accumulated volume will be at $2.61 and $2.51.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.228 between high and low, or 7.56%. For the last week the stock has had daily average volatility of 7.83%.
Digital Brands Group, Inc. Common Stock is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DBGI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Digital Brands Group, Inc. Common Stock to open at $3.10, and during the day (based on 14 day Average True Range), to move between $2.63 and $3.49, which gives a possible trading interval of +/-$0.427 (+/-13.97%) up or down from last closing price. If Digital Brands Group, Inc. Common Stock takes out the full calculated possible swing range there will be an estimated 27.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.14 (2.61%) than the support at $2.73 (10.95%), 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 Digital Brands Group, Inc. Common Stock stock A Buy?
Digital Brands Group, Inc. Common Stock holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.039 Sell Candidate Unchanged
Predicted Opening Price for Digital Brands Group, Inc. Common Stock of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.10 ( 1.39%) | $3.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DBGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.33 | 8.83 % | |
| R2 | 3.24 | 5.99 % | ||
| R1 | 3.19 | 4.23 % | ||
| Current price: | 3.06 | |||
| Support | S1 | 3.02 | -1.45 % | |
| S2 | 2.96 | -3.21 % | ||
| S3 | 2.87 | -6.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.56 | 16.34 % | |
| R2 | 3.28 | 7.19 % | ||
| R1 | 3.14 | 2.61 % | ||
| Current price | 3.06 | |||
| Support | S1 | 2.73 | -10.95% | |
| S2 | 2.61 | -14.71% | ||
| S3 | 2.51 | -17.97% |
FAQ
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