Dorchester Minerals Stock Forecast
Dorchester Minerals stock price up 0.775% on Friday
(Updated on Apr 19, 2024)
The Dorchester Minerals stock price gained 0.775% on the last trading day (Friday, 19th Apr 2024), rising from $33.57 to $33.83. During the last trading day the stock fluctuated 1.98% from a day low at $33.35 to a day high of $34.01. The price has fallen in 6 of the last 10 days and is down by -3.15% for this period. Volume fell on the last day by -5 thousand shares and in total, 35 thousand shares were bought and sold for approximately $1.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.01% during the next 3 months and, with a 90% probability hold a price between $36.65 and $40.54 at the end of this 3-month period.
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DMLP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -4.54%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Dorchester Minerals stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $33.80 and $33.22. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Dorchester Minerals stock
Dorchester Minerals finds support from accumulated volume at $33.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered 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 $0.660 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: $32.35 (-4.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (DMLP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Dorchester Minerals to open at $33.73, and during the day (based on 14 day Average True Range), to move between $33.02 and $34.64, which gives a possible trading interval of +/-$0.81 (+/-2.39%) up or down from last closing price. If Dorchester Minerals takes out the full calculated possible swing range there will be an estimated 4.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.47 (1.06%) than the resistance at $34.40 (1.68%), 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?
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 Dorchester Minerals stock to perform well in the short-term.
Current score: 2.215 Buy Candidate Unchanged
Predicted Opening Price for Dorchester Minerals of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $33.73 ( 0.296%) | $33.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DMLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.39 | 1.66 % | |
| R2 | 34.14 | 0.91 % | ||
| R1 | 33.98 | 0.450 % | ||
| Current price: | 33.83 | |||
| Support | S1 | 33.48 | -1.04 % | |
| S2 | 33.32 | -1.50 % | ||
| S3 | 33.07 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.44 | 4.76 % | |
| R2 | 35.24 | 4.17 % | ||
| R1 | 34.40 | 1.68 % | ||
| Current price | 33.83 | |||
| Support | S1 | 33.47 | -1.06% | |
| S2 | 31.14 | -7.95% | ||
| S3 | 29.47 | -12.89% |
DMLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Jan 26, 2024 | Feb 08, 2024 | $1.01 | 3.37% |
| 2 | Oct 19, 2023 | Oct 27, 2023 | Nov 09, 2023 | $0.85 | 3.04% |
| 3 | Jul 20, 2023 | Jul 28, 2023 | Aug 10, 2023 | $0.677 | 2.32% |
| 4 | Apr 20, 2023 | Apr 28, 2023 | May 11, 2023 | $0.99 | 3.46% |
| 5 | Jan 19, 2023 | Jan 27, 2023 | Feb 09, 2023 | $0.88 | 2.99% |
FAQ
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