Desktop Metal, Inc. Stock Forecast
Desktop Metal, Inc. stock price down 1.27% on Thursday
(Updated on Apr 25, 2024)
The Desktop Metal, Inc. stock price fell by -1.27% on the last day (Thursday, 25th Apr 2024) from $0.83 to $0.82. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.96% from a day low at $0.81 to a day high of $0.84. The price has fallen in 7 of the last 10 days and is down by -20.77% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -438 thousand shares and in total, 1 million shares were bought and sold for approximately $865.74 thousand.
The stock lies in the lower part of a very 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 $0.762 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 54.21% during the next 3 months and, with a 90% probability hold a price between $1.18 and $1.84 at the end of this 3-month period.
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DM Signals & Forecast
The Desktop Metal, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.84. On a fall, the stock will find some support from the long-term average at approximately $0.82. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, April 10, 2024, and so far it has fallen -26.43%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Desktop Metal, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.729 and $0.670. 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, Desktop Metal, Inc. finds support just below today's level at $0.729. If this is broken, then the next support from accumulated volume will be at $0.670 and $0.652.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0320 between high and low, or 3.96%. For the last week the stock has had daily average volatility of 6.94%.
Our recommended stop-loss: $0.773 (-6.16%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (DM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Desktop Metal, Inc. to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.742 and $0.91, which gives a possible trading interval of +/-$0.0820 (+/-9.95%) up or down from last closing price. If Desktop Metal, Inc. takes out the full calculated possible swing range there will be an estimated 19.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.86 (4.24%) than the support at $0.729 (11.50%), 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 Desktop Metal, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Desktop Metal, Inc. stock to perform well in the short-term.
Current score: 2.946 Buy Candidate Unchanged
Predicted Opening Price for Desktop Metal, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.82 ( 0%) | $0.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.86 | 3.88 % | |
| R2 | 0.84 | 2.40 % | ||
| R1 | 0.84 | 1.48 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.81 | -1.48 % | |
| S2 | 0.80 | -2.40 % | ||
| S3 | 0.792 | -3.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.97 | 18.29 % | |
| R2 | 0.96 | 16.06 % | ||
| R1 | 0.86 | 4.24 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.729 | -11.50% | |
| S2 | 0.670 | -18.70% | ||
| S3 | 0.652 | -20.87% |
DM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 03, 2019 | Jan 11, 2019 | Jan 31, 2019 | $0.369 | 0% |
| 2 | Oct 22, 2018 | Nov 02, 2018 | Nov 15, 2018 | $0.369 | 0% |
| 3 | Jul 26, 2018 | Aug 03, 2018 | Aug 15, 2018 | $0.351 | 0% |
| 4 | Apr 23, 2018 | May 03, 2018 | May 15, 2018 | $0.334 | 0% |
| 5 | Jan 25, 2018 | Feb 02, 2018 | Feb 15, 2018 | $0.318 | 0% |
FAQ
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