Weaker technical forecast for Digital Ally as stock downgraded to Sell Candidate.
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The Digital Ally stock price fell by -1.64% on the last day (Friday, 26th Nov 2021) from $1.22 to $1.20. and has now fallen 5 days in a row. During the day the stock fluctuated 4.27% from a day low at $1.17 to a day high of $1.22. The price has fallen in 6 of the last 10 days, but is still up by 4.35% 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 -1 million shares and in total, 560 thousand shares were bought and sold for approximately $671.42 thousand.
The stock lies in the middle of a very 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 -7.25% during the next 3 months and, with a 90% probability hold a price between $0.93 and $1.32 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The Digital Ally stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.29 and $1.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 19, 2021, and so far it has fallen -16.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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
Digital Ally finds support from accumulated volume at $1.18 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 4.27%. For the last week the stock has had a daily average volatility of 11.05%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Digital Ally stock A Buy?
Digital Ally holds several negative signals and is within a very 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: -3.399
Predicted Opening Price for Digital Ally of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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Aegis is very positive about DGLY and gave it a "Buy" rating on Jun 29, 2020. The price target was set to $5.00.
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