Dis-Chem Pharmacies Limited Stock Forecast
Stronger technical forecast for Dis-Chem Pharmacies Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Dis-Chem Pharmacies Limited stock price fell by -0.357% on the last day (Friday, 17th May 2024) from $3,366.00 to $3,354.00. During the last trading day the stock fluctuated 1.02% from a day low at $3,328.00 to a day high of $3,362.00. The price has been going up and down for this period, and there has been a 1.64% gain for the last 2 weeks. Volume has increased on the last day by 98 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 209 thousand shares were bought and sold for approximately $701.98 million.
The stock lies in the middle of a wide and weak 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 7.94% during the next 3 months and, with a 90% probability hold a price between $3,380.90 and $3,864.16 at the end of this 3-month period.
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DCP.JO Signals & Forecast
The Dis-Chem Pharmacies Limited 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 $3,351.86 and $3,245.74. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.97%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -12.54% to $2,933.33 within 39 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Dis-Chem Pharmacies Limited stock
Dis-Chem Pharmacies Limited finds support from accumulated volume at $3,262.00 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 $34.00 between high and low, or 1.02%. For the last week, the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: $3,251.68 (-3.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (DCP.JO) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Dis-Chem Pharmacies Limited to open at $3,348.00, and during the day (based on 14 day Average True Range), to move between $3,277.86 and $3,430.14, which gives a possible trading interval of +/-$76.14 (+/-2.27%) up or down from last closing price. If Dis-Chem Pharmacies Limited takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3,362.00 (0.24%) than the support at $3,262.00 (2.74%), 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 Dis-Chem Pharmacies Limited stock A Buy?
Dis-Chem Pharmacies Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.290 Strong Buy Candidate Upgraded
Predicted Opening Price for Dis-Chem Pharmacies Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $3,348.00 ( 0.179%) | $3,354.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DCP.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,382.00 | 0.83 % | |
| R2 | 3,369.01 | 0.448 % | ||
| R1 | 3,360.99 | 0.208 % | ||
| Current price: | 3,354.00 | |||
| Support | S1 | 3,335.01 | -0.566 % | |
| S2 | 3,326.99 | -0.81 % | ||
| S3 | 3,314.00 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,400.00 | 1.37 % | |
| R2 | 3,387.00 | 0.98 % | ||
| R1 | 3,362.00 | 0.239 % | ||
| Current price | 3,354.00 | |||
| Support | S1 | 3,262.00 | -2.74% | |
| S2 | 3,237.00 | -3.49% | ||
| S3 | 3,110.00 | -7.27% |
DCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | $23.24 | 0.80% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | $18.45 | 0.793% |
| 3 | Nov 23, 2022 | Nov 23, 2022 | Nov 23, 2022 | $28.12 | 0.93% |
| 4 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | $20.20 | 0.600% |
| 5 | Nov 24, 2021 | Nov 24, 2021 | Nov 24, 2021 | $19.49 | 0.579% |
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