Red day on Friday for Dorman Products stock after losing 0.78%
(Updated on Dec 03, 2021)
Buy or Hold candidate since 2021-10-26 Gain 12.02% PDF
The Dorman Products stock price fell by -0.78% on the last day (Friday, 3rd Dec 2021) from $113.56 to $112.67. During the day the stock fluctuated 2.03% from a day low at $112.05 to a day high of $114.33. The price has been going up and down for this period, and there has been a -6.48% loss for the last 2 weeks. 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 -67 thousand shares and in total, 61 thousand shares were bought and sold for approximately $6.85 million.
The stock lies in the lower part of a 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 $112.45 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 31.77% during the next 3 months and, with a 90% probability hold a price between $148.18 and $166.19 at the end of this 3-month period.
Signals & Forecast
The Dorman Products 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 $114.06. On a fall, the stock will find some support from the long-term average at approximately $111.14. 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 Tuesday, November 23, 2021, and so far it has fallen -8.17%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $99.91 and $98.63. There is 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, Dorman Products finds support just below today's level at $99.91. If this is broken, then the next support from accumulated volume will be at $98.63 and $93.28.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.28 between high and low, or 2.03%. For the last week, the stock has had a daily average volatility of 2.96%.
Our recommended stop-loss: $105.68 (-6.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Is Dorman Products 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 Dorman Products stock to perform well in the short-term.
Current score: 2.771
Predicted Opening Price for Dorman Products of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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Stephens does not see either upside or downside right now giving DORM "Equal Weight" on their last update on Apr 28, 2020. The price target was changed from $57.00 to $60.00.
DORM Insider Trading
|Nov 30, 2021||Sell||8 300||Berman Steven L||Common Stock|
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