Delta Apparel, Inc Stock Forecast

Delta Apparel, Inc stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)

DLA Signals & Forecast

There are mixed signals in the stock today. The Delta Apparel, 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 $1.06. On a fall, the stock will find some support from the short-term average at $0.519. 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. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen 0%. 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 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.

Support, Risk & Stop-loss for Delta Apparel, Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.520 and $0.500. 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, Delta Apparel, Inc finds support just below today's level at $0.520. If this is broken, then the next support from accumulated volume will be at $0.500 and $0.470.

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 36.03%

Our recommended stop-loss: $0.554 (-4.46%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (DLA) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Delta Apparel, Inc to open at $0.580, and during the day (based on 14 day Average True Range), to move between $0.431 and $0.729, which gives a possible trading interval of +/-$0.149 (+/-25.61%) up or down from last closing price. If Delta Apparel, Inc takes out the full calculated possible swing range there will be an estimated 51.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.520 (10.34%) than the resistance at $0.650 (12.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Delta Apparel, Inc stock A Buy?

Delta Apparel, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Delta Apparel, Inc of Wednesday, July 3, 2024

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