Dominion Diamond Corp Stock Forecast
Volatile ride for Dominion Diamond Corp stock price on Monday moving between $0.99 and $1.19
(Updated on Jun 17, 2024)
The Dominion Diamond Corp stock price fell by -15.00% on the last day (Monday, 17th Jun 2024) from $1.20 to $1.02. During the last trading day the stock fluctuated 20.74% from a day low at $0.99 to a day high of $1.19. The price has fallen in 6 of the last 10 days but is still up by 60.13% over the past 2 weeks. 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 -2 million shares and in total, 642 thousand shares were bought and sold for approximately $655.00 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -33.31% during the next 3 months and, with a 90% probability hold a price between $0.313 and $1.00 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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DDC Signals & Forecast
The Dominion Diamond Corp 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 $0.93 and $0.792. 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, June 12, 2024, and so far it has fallen -33.77%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Dominion Diamond Corp stock
Dominion Diamond Corp finds support from accumulated volume at $1.00 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 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 $0.204 between high and low, or 20.74%. For the last week the stock has had daily average volatility of 82.76%.
Our recommended stop-loss: $0.96 (-5.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (DDC) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Dominion Diamond Corp to open at $1.07, and during the day (based on 14 day Average True Range), to move between $0.746 and $1.29, which gives a possible trading interval of +/-$0.274 (+/-26.87%) up or down from last closing price. If Dominion Diamond Corp takes out the full calculated possible swing range there will be an estimated 53.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.00 (1.96%) than the resistance at $1.14 (11.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dominion Diamond 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.
Current score: 1.361 Buy Candidate Unchanged
Predicted Opening Price for Dominion Diamond Corp of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $1.07 ( 4.43%) | $1.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DDC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.27 | 24.47% |
| R2 | 1.19 | 16.82% |
| R1 | 1.14 | 12.09% |
| Price | 1.02 | |
| S1 | 0.99 | -3.22% |
| S2 | 0.94 | -7.95% |
| S3 | 0.86 | -15.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.25 | 22.55% |
| R2 | 1.20 | 17.65% |
| R1 | 1.14 | 11.76% |
| Price | 1.02 | |
| S1 | 1.00 | -1.96% |
| S2 | 0.88 | -14.08% |
| S3 | 0.82 | -19.61% |
DDC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 13, 2017 | May 15, 2017 | Jun 05, 2017 | $0.200 | 0% |
| 2 | Sep 09, 2016 | Oct 06, 2016 | Nov 03, 2016 | $0.200 | 0% |
| 3 | Apr 14, 2016 | May 13, 2016 | Jun 02, 2016 | $0.200 | 0% |
| 4 | Sep 11, 2015 | Oct 08, 2015 | Nov 05, 2015 | $0.200 | 0% |
| 5 | Apr 09, 2015 | Apr 28, 2015 | May 21, 2015 | $0.400 | 0% |
FAQ
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