Dorchester Minerals Stock Forecast
Dorchester Minerals stock price ended on $27.50 on Friday after losing 0.398%
(Updated on Mar 24, 2023)
The Dorchester Minerals stock price fell by -0.398% on the last day (Friday, 24th Mar 2023) from $27.61 to $27.50. During the last trading day the stock fluctuated 3.30% from a day low at $27.19 to a day high of $28.09. The price has fallen in 6 of the last 10 days and is down by -4.91% 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 -14 thousand shares and in total, 34 thousand shares were bought and sold for approximately $947.95 thousand.
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The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.10 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.02% during the next 3 months and, with a 90% probability hold a price between $26.01 and $30.07 at the end of this 3-month period.
DMLP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 17, 2023, and so far it has risen 1.07%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dorchester Minerals 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 $27.57 and $29.43. A break-up above any of these levels will issue buy signals. 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 Dorchester Minerals stock
Dorchester Minerals finds support from accumulated volume at $27.22 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.90 between high and low, or 3.30%. For the last week the stock has had daily average volatility of 2.96%.
Dorchester Minerals is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $25.79 (-6.22%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (DMLP) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Dorchester Minerals to open at $27.59, and during the day (based on 14 day Average True Range), to move between $26.49 and $28.51, which gives a possible trading interval of +/-$1.01 (+/-3.67%) up or down from last closing price. If Dorchester Minerals takes out the full calculated possible swing range there will be an estimated 7.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.22 (1.02%) than the resistance at $30.81 (12.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dorchester Minerals stock A Buy?
Dorchester Minerals holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.706 Open Broker Account
Hold/Accumulate UnchangedPredicted Opening Price for Dorchester Minerals of Monday, March 27, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 27, 2023 | Current price |
|---|---|
| $27.59 | $27.50 (Undervalued) |
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Trading levels for DMLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.49 | 3.61 % | |
| R2 | 28.15 | 2.36 % | ||
| R1 | 27.94 | 1.59 % | ||
| Current price: | 27.50 | |||
| Support | S1 | 27.25 | -0.91 % | |
| S2 | 27.04 | -1.68 % | ||
| S3 | 26.70 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.75 | 15.45 % | |
| R2 | 31.45 | 14.36 % | ||
| R1 | 30.81 | 12.04 % | ||
| Current price | 27.50 | |||
| Support | S1 | 27.22 | -1.02% | |
| S2 | 27.21 | -1.05% | ||
| S3 | 0 | . |
FAQ
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About Dorchester Minerals
Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States. Its royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty interests located in 582 counties and parishes in 26 states; and net profits interests represent net profits overriding royalty interests in ... DMLP Profile
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