A very strong day for DISH Network Corporation stock price on Friday
(Updated on Dec 08, 2023)
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Given the current short-term trend, the stock is expected to fall -40.27% during the next 3 months and, with a 90% probability hold a price between $1.54 and $2.73 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.
DISH Signals & Forecast
Mostly positive signals in the chart today. The DISH Network Corporation 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 $4.03 and $4.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, November 16, 2023, and so far it has risen 37.65%. 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). 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.
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Support, Risk & Stop-loss for DISH Network Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.65 and $3.52. 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, DISH Network Corporation finds support just below today's level at $3.65. If this is broken, then the next support from accumulated volume will be at $3.52 and $3.44.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.290 between high and low, or 6.70%. For the last week, the stock has had daily average volatility of 6.15%.
The DISH Network Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $4.44 (-2.82%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (DISH) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect DISH Network Corporation to open at $4.51, and during the day (based on 14 day Average True Range), to move between $4.31 and $4.83, which gives a possible trading interval of +/-$0.262 (+/-5.74%) up or down from last closing price. If DISH Network Corporation takes out the full calculated possible swing range there will be an estimated 11.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.89 (7.00%) than the support at $3.65 (20.13%), 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 DISH Network Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.044 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for DISH Network Corporation of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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