Dorman Products Stock Forecast
Dorman Products stock price up 1.61% on Tuesday
(Updated on Apr 23, 2024)
The Dorman Products stock price gained 1.61% on the last trading day (Tuesday, 23rd Apr 2024), rising from $88.79 to $90.22. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.70% from a day low at $88.82 to a day high of $90.33. The price has fallen in 6 of the last 10 days and is down by -5.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 79 thousand shares were bought and sold for approximately $7.14 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 $88.51 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 14.00% during the next 3 months and, with a 90% probability hold a price between $100.90 and $114.44 at the end of this 3-month period.
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DORM Signals & Forecast
There are mixed signals in the stock today. The Dorman Products stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $92.32. On a fall, the stock will find some support from the short-term average at $88.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -7.56%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Dorman Products stock
On the downside, the stock finds support just below today's level from accumulated volume at $82.24 and $81.90. 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, Dorman Products finds support just below today's level at $82.24. If this is broken, then the next support from accumulated volume will be at $81.90 and $81.16.
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 $1.51 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 1.75%.
Dorman Products is oversold on RSI14 (24). 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 (DORM) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Dorman Products to open at $89.79, and during the day (based on 14 day Average True Range), to move between $88.13 and $92.31, which gives a possible trading interval of +/-$2.09 (+/-2.31%) up or down from last closing price. If Dorman Products takes out the full calculated possible swing range there will be an estimated 4.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $90.39 (0.19%) than the support at $82.24 (8.85%), 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 Dorman Products stock A Buy?
Dorman Products holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.763 Sell Candidate Unchanged
Predicted Opening Price for Dorman Products of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $89.79 ( 0.477%) | $90.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DORM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.30 | 1.20 % | |
| R2 | 90.72 | 0.558 % | ||
| R1 | 90.37 | 0.163 % | ||
| Current price: | 90.22 | |||
| Support | S1 | 89.21 | -1.12 % | |
| S2 | 88.86 | -1.51 % | ||
| S3 | 88.28 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.27 | 6.70 % | |
| R2 | 92.91 | 2.98 % | ||
| R1 | 90.39 | 0.188 % | ||
| Current price | 90.22 | |||
| Support | S1 | 82.24 | -8.85% | |
| S2 | 81.90 | -9.22% | ||
| S3 | 81.16 | -10.04% |
DORM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2012 | Dec 13, 2012 | Dec 28, 2012 | $1.50 | 4.39% |
FAQ
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