Donegal Group Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Donegal Group Inc stock after losing 0%
(Updated on May 01, 2024)
No changes to the price of Donegal Group Inc stock on the last trading day (Wednesday, 1st May 2024). During the last trading day the stock fluctuated 0% from a day low at $12.91 to a day high of $12.91. The price has been going up and down for this period, and there has been a 1.25% gain for the last 2 weeks.
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 $13.06 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 -13.35% during the next 3 months and, with a 90% probability hold a price between $10.23 and $11.31 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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DGICB Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.25%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Donegal Group Inc 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 $13.08. On a fall, the stock will find some support from the short-term average at $12.88. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 4.43% to $13.48 within 9 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Donegal Group Inc stock
Donegal Group Inc finds support from accumulated volume at $12.90 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.604%
Our recommended stop-loss: $12.17 (-5.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (DGICB) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Donegal Group Inc to open at $12.91, and during the day (based on 14 day Average True Range), to move between $12.76 and $13.06, which gives a possible trading interval of +/-$0.146 (+/-1.13%) up or down from last closing price. If Donegal Group Inc takes out the full calculated possible swing range there will be an estimated 2.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.90 (0.07%) than the resistance at $13.83 (7.13%), 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 Inc stock A Buy?
Donegal Group Inc 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Donegal Group Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $12.91 ( 0.00000000%) | $12.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGICB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.91 | 0.00000000 % | |
| R2 | 12.91 | 0.00000000 % | ||
| R1 | 12.91 | 0.00000000 % | ||
| Current price: | 12.91 | |||
| Support | S1 | 12.91 | 0.00000000 % | |
| S2 | 12.91 | 0.00000000 % | ||
| S3 | 12.91 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.64 | 13.40 % | |
| R2 | 13.95 | 8.06 % | ||
| R1 | 13.83 | 7.13 % | ||
| Current price | 12.91 | |||
| Support | S1 | 12.90 | -0.0682% | |
| S2 | 12.82 | -0.689% | ||
| S3 | 12.78 | -1.01% |
DGICB 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 | $0.153 | 1.09% |
| 3 | Oct 31, 2023 | Oct 31, 2023 | Oct 31, 2023 | $0 | 0% |
| 4 | Jul 20, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.153 | 1.09% |
| 5 | Apr 20, 2023 | Apr 28, 2023 | May 15, 2023 | $0.153 | 1.09% |
FAQ
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