Dolphin Entertainment Inc Stock Forecast
Volatile ride for Dolphin Entertainment Inc stock price on Tuesday moving between $0.83 and $0.94
(Updated on Jul 02, 2024)
The Dolphin Entertainment Inc stock price fell by -7.83% on the last day (Tuesday, 2nd Jul 2024) from $0.90 to $0.83. During the last trading day the stock fluctuated 13.33% from a day low at $0.83 to a day high of $0.94. The price has fallen in 7 of the last 10 days and is down by -19.12% for this period. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 29 thousand shares were bought and sold for approximately $23.77 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.92) are considered to be a "second chance" to get out. According to the fan-theory $0.735 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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DLPN Signals & Forecast
There are few to no technical positive signals at the moment. The Dolphin Entertainment Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.94 and $1.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -33.47%. 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). Dolphin Entertainment Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Dolphin Entertainment Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.110 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 7.76%.
Dolphin Entertainment Inc is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DLPN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Dolphin Entertainment Inc to open at $0.86, and during the day (based on 14 day Average True Range), to move between $0.760 and $0.89, which gives a possible trading interval of +/-$0.0654 (+/-7.93%) up or down from last closing price. If Dolphin Entertainment Inc takes out the full calculated possible swing range there will be an estimated 15.85% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.92, some $0.0928 (11.25%) from the current price of $0.83, our system finds the risk reward not very attractive.
Is Dolphin Entertainment Inc stock A Buy?
Dolphin Entertainment Inc holds several negative signals and is within a 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.
Current score: -5.536 Strong Sell Candidate Unchanged
Predicted Opening Price for Dolphin Entertainment Inc of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.86 ( 4.44%) | $0.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DLPN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.97 | 17.78% |
R2 | 0.93 | 12.68% |
R1 | 0.90 | 9.54% |
Price | 0.83 | |
S1 | 0.82 | -0.649% |
S2 | 0.794 | -3.80% |
S3 | 0.752 | -8.89% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.02 | 23.64% |
R2 | 1.00 | 21.21% |
R1 | 0.92 | 11.25% |
Price | 0.83 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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