Donegal Group Stock Forecast
Evaluation of Donegal Group stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Donegal Group stock price fell by -1.07% on the last day (Thursday, 25th Apr 2024) from $14.00 to $13.85. During the last trading day the stock fluctuated 1.81% from a day low at $13.82 to a day high of $14.07. The price has fallen in 6 of the last 10 days but is still up by 3.36% 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 -11 thousand shares and in total, 44 thousand shares were bought and sold for approximately $609.83 thousand.
The stock lies the upper part of a wide and falling 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 $14.02 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.38% during the next 3 months and, with a 90% probability hold a price between $11.56 and $12.84 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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DGICA Signals & Forecast
The Donegal Group 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 $13.79 and $13.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 4.77%. 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. 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 Donegal Group stock
Donegal Group finds support from accumulated volume at $13.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.250 between high and low, or 1.81%. For the last week the stock has had daily average volatility of 2.47%
Our recommended stop-loss: $13.14 (-5.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (DGICA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Donegal Group to open at $13.91, and during the day (based on 14 day Average True Range), to move between $13.54 and $14.16, which gives a possible trading interval of +/-$0.308 (+/-2.22%) up or down from last closing price. If Donegal Group takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.73 (0.87%) than the resistance at $13.97 (0.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Donegal Group stock A Buy?
Donegal Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.781 Hold/Accumulate Downgraded
Predicted Opening Price for Donegal Group of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $13.91 ( 0.457%) | $13.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGICA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.16 | 2.26 % | |
| R2 | 14.07 | 1.57 % | ||
| R1 | 14.01 | 1.15 % | ||
| Current price: | 13.85 | |||
| Support | S1 | 13.82 | -0.232 % | |
| S2 | 13.76 | -0.658 % | ||
| S3 | 13.66 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.20 | 2.53 % | |
| R2 | 14.04 | 1.37 % | ||
| R1 | 13.97 | 0.87 % | ||
| Current price | 13.85 | |||
| Support | S1 | 13.73 | -0.87% | |
| S2 | 13.72 | -0.94% | ||
| S3 | 13.40 | -3.25% |
DGICA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 07, 2024 | $0 | 0% |
| 2 | Dec 21, 2023 | Jan 31, 2024 | Feb 15, 2024 | $0.170 | 1.13% |
| 3 | Oct 19, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.170 | 1.19% |
| 4 | Jul 20, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.170 | 1.14% |
| 5 | Apr 20, 2023 | Apr 28, 2023 | May 15, 2023 | $0.170 | 1.18% |
FAQ
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