Dragonfly Energy Holdings Corp. Common Stock Forecast
High volatility in Dragonfly Energy Holdings Corp. Common stock price on Monday which ended trading at $0.80
(Updated on Apr 29, 2024)
The Dragonfly Energy Holdings Corp. Common stock price gained 4.64% on the last trading day (Monday, 29th Apr 2024), rising from $0.769 to $0.80. During the last trading day the stock fluctuated 11.44% from a day low at $0.750 to a day high of $0.84. The price has risen in 7 of the last 10 days and is up by 78.87% over the past 2 weeks. Volume fell on the last day by -855 thousand shares and in total, 460 thousand shares were bought and sold for approximately $369.89 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.85 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 30.42% during the next 3 months and, with a 90% probability hold a price between $0.629 and $1.11 at the end of this 3-month period.
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DFLI Signals & Forecast
The Dragonfly Energy Holdings Corp. Common 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 $0.798 and $0.577. 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, April 24, 2024, and so far it has fallen -4.49%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Dragonfly Energy Holdings Corp. Common stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.757 and $0.616. 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, Dragonfly Energy Holdings Corp. Common finds support just below today's level at $0.757. If this is broken, then the next support from accumulated volume will be at $0.616 and $0.614.
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 $0.0858 between high and low, or 11.44%. For the last week the stock has had daily average volatility of 16.77%.
Our recommended stop-loss: $0.768 (-4.55%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (DFLI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Dragonfly Energy Holdings Corp. Common Stock to open at $0.797, and during the day (based on 14 day Average True Range), to move between $0.709 and $0.90, which gives a possible trading interval of +/-$0.0961 (+/-11.94%) up or down from last closing price. If Dragonfly Energy Holdings Corp. Common Stock takes out the full calculated possible swing range there will be an estimated 23.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.81 (0.65%) than the support at $0.757 (6.00%), 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 Dragonfly Energy Holdings Corp. Common Stock stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Dragonfly Energy Holdings Corp. Common stock to perform well in the short-term.
Current score: 2.623 Buy Candidate Unchanged
Predicted Opening Price for Dragonfly Energy Holdings Corp. Common Stock of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $0.797 ( 0.99%) | $0.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DFLI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 9.67 % | |
| R2 | 0.85 | 5.59 % | ||
| R1 | 0.83 | 3.08 % | ||
| Current price: | 0.80 | |||
| Support | S1 | 0.764 | -5.07 % | |
| S2 | 0.744 | -7.58 % | ||
| S3 | 0.711 | -11.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 4.70 % | |
| R2 | 0.83 | 3.07 % | ||
| R1 | 0.81 | 0.646 % | ||
| Current price | 0.80 | |||
| Support | S1 | 0.757 | -6.00% | |
| S2 | 0.616 | -23.53% | ||
| S3 | 0.614 | -23.68% |
FAQ
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