Delek Group Ltd. Stock Forecast
Weaker technical forecast for Delek Group Ltd. as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
The Delek Group Ltd. stock price fell by -1.61% on the last day (Thursday, 2nd May 2024) from $11.79 to $11.60. During the last trading day the stock fluctuated 2.33% from a day low at $11.60 to a day high of $11.87. The price has fallen in 5 of the last 10 days and is down by -0.04% for this period. Volume has increased on the last day by 874 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, 2 thousand shares were bought and sold for approximately $19.44 thousand.
The stock lies in the middle of a 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 -7.56% during the next 3 months and, with a 90% probability hold a price between $10.34 and $11.97 at the end of this 3-month period.
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DELKY Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.75%. 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. The Delek Group Ltd. 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 $11.84 and $12.19. A break-up above any of these levels will issue buy signals. Delek Group Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, April 01, 2024 and based on theory for this formation the price should fall by -10.59% to $10.37 within 21 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Delek Group Ltd. stock
Delek Group Ltd. finds support from accumulated volume at $11.58 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 $0.270 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 0.534%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DELKY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Delek Group Ltd. to open at $11.69, and during the day (based on 14 day Average True Range), to move between $11.37 and $11.83, which gives a possible trading interval of +/-$0.234 (+/-2.02%) up or down from last closing price. If Delek Group Ltd. takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.58 (0.17%) than the resistance at $12.20 (5.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Delek Group Ltd. stock A Buy?
Delek Group Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -4.012 Sell Candidate Downgraded
Predicted Opening Price for Delek Group Ltd. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $11.69 ( 0.747%) | $11.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DELKY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.96 | 3.07 % | |
| R2 | 11.85 | 2.19 % | ||
| R1 | 11.79 | 1.64 % | ||
| Current price: | 11.60 | |||
| Support | S1 | 11.58 | -0.142 % | |
| S2 | 11.52 | -0.691 % | ||
| S3 | 11.42 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.31 | 14.74 % | |
| R2 | 12.23 | 5.39 % | ||
| R1 | 12.20 | 5.17 % | ||
| Current price | 11.60 | |||
| Support | S1 | 11.58 | -0.172% | |
| S2 | 11.50 | -0.86% | ||
| S3 | 11.40 | -1.72% |
DELKY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 08, 2024 | Apr 08, 2024 | May 06, 2024 | $0.225 | 1.94% |
| 2 | Dec 04, 2023 | Dec 04, 2023 | Jan 03, 2024 | $0 | 0% |
| 3 | Sep 01, 2023 | Sep 01, 2023 | Oct 03, 2023 | $0.283 | 1.88% |
| 4 | Jun 12, 2023 | Jun 12, 2023 | Jul 12, 2023 | $0.296 | 2.49% |
| 5 | Mar 02, 2023 | Mar 02, 2023 | Mar 29, 2023 | $0.692 | 6.24% |
FAQ
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