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AI Analysis of DGN.L
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Asia Dragon Trust Plc stock downgraded to Hold/Accumulate
(Updated on Jun 19, 2024)

Buy or Hold candidate since Jun 18, 2024 Gain 1.44% PDF

The Asia Dragon Trust Plc stock price gained 1.44% on the last trading day (Wednesday, 19th Jun 2024), rising from £398.00 to £403.74. During the last trading day the stock fluctuated 1.50% from a day low at £399.00 to a day high of £404.98. The price has fallen in 6 of the last 10 days but is still up by 2.73% over the past 2 weeks. Volume fell on the last day by -301 thousand shares and in total, 39 thousand shares were bought and sold for approximately £15.68 million. 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 middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.62% during the next 3 months and, with a 90% probability hold a price between £461.78 and £518.22 at the end of this 3-month period.

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DGN.L Signals & Forecast

The Asia Dragon Trust Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £395.25 and £398.65. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, May 20, 2024, and so far it has fallen -2.48%. 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).

Support, Risk & Stop-loss for Asia Dragon Trust Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £356.00 and £351.00. 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, Asia Dragon Trust Plc finds support just below today's level at £356.00. If this is broken, then the next support from accumulated volume will be at £351.00 and £348.00.

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 £5.98 between high and low, or 1.50%. For the last week the stock has had daily average volatility of 2.64%.

Our recommended stop-loss: £389.89 (-3.43%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (DGN.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Asia Dragon Trust Plc to open at £402.57, and during the day (based on 14 day Average True Range), to move between £393.96 and £413.52, which gives a possible trading interval of +/-£9.78 (+/-2.42%) up or down from last closing price. If Asia Dragon Trust Plc takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £404.00 (0.07%) than the support at £356.00 (11.82%), 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 Asia Dragon Trust Plc stock A Buy?

Asia Dragon Trust Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.186 Hold/Accumulate Downgraded

Predicted Opening Price for Asia Dragon Trust Plc of Thursday, June 20, 2024

Fair opening price June 20, 2024 Current price
£402.57 ( 0.289%) £403.74

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for DGN.L

Fibonacci Support & Resistance Levels

Level Price
R3 408.55 1.19%
R2 406.27 0.627%
R1 404.86 0.277%
Price 403.74
S1 400.29 -0.85%
S2 398.88 -1.20%
S3 396.59 -1.77%

Accumulated Volume Support & Resistance Levels

Level Price
R3 411.00 1.80%
R2 410.00 1.55%
R1 404.00 0.0650%
Price 403.74
S1 356.00 -11.82%
S2 351.00 -13.06%
S3 348.00 -13.81%

FAQ

What is the symbol for Asia Dragon Trust Plc Stock and on which exchange is it traded?
The symbol for Asia Dragon Trust Plc is DGN.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Asia Dragon Trust Plc Stock?
Asia Dragon Trust Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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.

How to buy Asia Dragon Trust Plc Stock?
Asia Dragon Trust Plc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Asia Dragon Trust Plc Stock.

What's the current price of Asia Dragon Trust Plc Stock?
As of the end of day on the Jun 19, 2024, the price of an Asia Dragon Trust Plc (DGN.L) share was £403.74.

What is the 52-week high and low for Asia Dragon Trust Plc Stock?
The 52-week high for Asia Dragon Trust Plc Stock is £417.44 and the 52-week low is £321.60.

What is the market capitalization of Asia Dragon Trust Plc Stock?
As of the Jun 19, 2024, the market capitalization of Asia Dragon Trust Plc is 646.069M.
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