0% commission for ETF tradesDover Corporation Stock Forecast
AI Analysis of DOV
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Stronger technical forecast for Dover Corporation stock price after Thursday trading.
(Updated on Sep 12, 2024)
The Dover Corporation stock price gained 1.92% on the last trading day (Thursday, 12th Sep 2024), rising from $183.16 to $186.68. It has now gained 5 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 2.68% from a day low at $181.84 to a day high of $186.71. The price has risen in 7 of the last 10 days and is up by 2.66% over the past 2 weeks. Volume fell on the last day by -300 thousand shares and in total, 734 thousand shares were bought and sold for approximately $137.09 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Dover Corporation stock with a 90% probability to be traded between $172.21 and $191.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DOV Signals & Forecast
The Dover Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $179.57 and $180.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, September 05, 2024, and so far it has risen 6.64%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Dover Corporation stock
Dover Corporation finds support from accumulated volume at $186.32 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.87 between high and low, or 2.68%. For the last week the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: $179.69 (-3.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (DOV) For The Upcoming Trading Day Of Friday 13th
For the upcoming trading day on Friday, 13th we expect Dover Corporation to open at $185.08, and during the day (based on 14 day Average True Range), to move between $182.79 and $190.57, which gives a possible trading interval of +/-$3.89 (+/-2.08%) up or down from last closing price. If Dover Corporation takes out the full calculated possible swing range there will be an estimated 4.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $186.32 (0.19%) than the resistance at $189.81 (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 Dover Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Dover Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
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Current score: 2.268 Buy Candidate Upgraded
Predicted Opening Price for Dover Corporation of Friday, September 13, 2024
| Fair opening price September 13, 2024 | Current price |
|---|---|
| $185.08 ( 0.86%) | $186.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 189.95 | 1.75% |
| R2 | 188.09 | 0.753% |
| R1 | 186.94 | 0.138% |
| Price | 186.68 | |
| S1 | 183.22 | -1.86% |
| S2 | 182.07 | -2.47% |
| S3 | 180.21 | -3.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 191.49 | 2.58% |
| R1 | 189.81 | 1.68% |
| Price | 186.68 | |
| S1 | 186.32 | -0.193% |
| S2 | 182.50 | -2.24% |
| S3 | 176.33 | -5.54% |
DOV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 02, 2024 | Aug 30, 2024 | Sep 16, 2024 | $0.515 | 0.276% |
| 2 | May 31, 2024 | May 31, 2024 | Jun 14, 2024 | $0.510 | 0.288% |
| 3 | May 03, 2024 | May 30, 2024 | Jun 14, 2024 | $0.510 | 0.288% |
| 4 | Feb 08, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.510 | 0.291% |
| 5 | Nov 02, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.510 | 0.335% |
FAQ
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