Donegal Group Stock Forecast
Green day on Thursday for Donegal Group stock after gaining 1.94%
(Updated on Apr 18, 2024)
The Donegal Group stock price gained 1.94% on the last trading day (Thursday, 18th Apr 2024), rising from $13.38 to $13.64. During the last trading day the stock fluctuated 2.39% from a day low at $13.38 to a day high of $13.70. The price has fallen in 8 of the last 10 days and is down by -2.43% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 40 thousand shares were bought and sold for approximately $541.36 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 -9.15% during the next 3 months and, with a 90% probability hold a price between $11.51 and $12.75 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
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.48%. Further rise is indicated until a new top pivot has been found. Donegal Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Donegal Group stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.73. On a fall, the stock will find some support from the short-term average at $13.43. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Donegal Group stock
Donegal Group finds support from accumulated volume at $13.56 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.320 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DGICA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Donegal Group to open at $13.57, and during the day (based on 14 day Average True Range), to move between $13.34 and $13.94, which gives a possible trading interval of +/-$0.297 (+/-2.17%) up or down from last closing price. If Donegal Group takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.56 (0.59%) than the resistance at $13.97 (2.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Donegal Group will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.200. We will update the financials statements for Donegal Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.37% in the first trading day after earnings release.
Is Donegal Group stock A Buy?
Donegal Group holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.056 Sell Candidate Unchanged
Predicted Opening Price for Donegal Group of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $13.57 ( 0.489%) | $13.64 |
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 | 13.89 | 1.86 % | |
| R2 | 13.77 | 0.96 % | ||
| R1 | 13.70 | 0.407 % | ||
| Current price: | 13.64 | |||
| Support | S1 | 13.45 | -1.38 % | |
| S2 | 13.38 | -1.94 % | ||
| S3 | 13.25 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.20 | 4.11 % | |
| R2 | 14.04 | 2.93 % | ||
| R1 | 13.97 | 2.42 % | ||
| Current price | 13.64 | |||
| Support | S1 | 13.56 | -0.587% | |
| S2 | 13.40 | -1.76% | ||
| S3 | 13.22 | -3.08% |
DGICA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 21, 2023 | Jan 31, 2024 | Feb 15, 2024 | $0.170 | 1.13% |
| 2 | Oct 19, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.170 | 1.19% |
| 3 | Jul 20, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.170 | 1.14% |
| 4 | Apr 20, 2023 | Apr 28, 2023 | May 15, 2023 | $0.170 | 1.18% |
| 5 | Dec 15, 2022 | Jan 31, 2023 | Feb 15, 2023 | $0.165 | 1.09% |
FAQ
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