Daily Journal Corp. (S.C.) Stock Forecast
Daily Journal Corp. (S.C.) stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Daily Journal Corp. (S.C.) stock price gained 1.75% on the last trading day (Friday, 19th Apr 2024), rising from $342.00 to $347.98. During the last trading day the stock fluctuated 2.35% from a day low at $340.02 to a day high of $348.00. The price has risen in 7 of the last 10 days but is still down by -6.19% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $4.39 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $336.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.52% during the next 3 months and, with a 90% probability hold a price between $371.89 and $457.40 at the end of this 3-month period.
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DJCO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.81%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Daily Journal Corp. (S.C.) 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 $363.43. On a fall, the stock will find some support from the short-term average at $342.34. 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.
Support, Risk & Stop-loss for Daily Journal Corp. (S.C.) stock
Daily Journal Corp. (S.C.) finds support from accumulated volume at $338.00 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.98 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: $331.31 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (DJCO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Daily Journal Corp. (S.C.) to open at $345.33, and during the day (based on 14 day Average True Range), to move between $338.88 and $357.08, which gives a possible trading interval of +/-$9.10 (+/-2.62%) up or down from last closing price. If Daily Journal Corp. (S.C.) takes out the full calculated possible swing range there will be an estimated 5.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $338.00 (2.87%) than the resistance at $368.88 (6.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Daily Journal Corp. (S.C.) stock A Buy?
Daily Journal Corp. (S.C.) 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.143 Hold/Accumulate Upgraded
Predicted Opening Price for Daily Journal Corp. (S.C.) of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $345.33 ( 0.761%) | $347.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DJCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 353.31 | 1.53 % | |
| R2 | 350.26 | 0.657 % | ||
| R1 | 348.38 | 0.115 % | ||
| Current price: | 347.98 | |||
| Support | S1 | 342.28 | -1.64 % | |
| S2 | 340.40 | -2.18 % | ||
| S3 | 337.35 | -3.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 382.13 | 9.81 % | |
| R2 | 370.20 | 6.39 % | ||
| R1 | 368.88 | 6.01 % | ||
| Current price | 347.98 | |||
| Support | S1 | 338.00 | -2.87% | |
| S2 | 337.88 | -2.90% | ||
| S3 | 314.50 | -9.62% |
FAQ
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