DouYu International Holdings Limited Stock Forecast

DouYu International Holdings Limited stock price up more than 5.70% on Thursday
(Updated on May 02, 2024)

DOYU Signals & Forecast

The DouYu International Holdings Limited 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 $8.64 and $5.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 22.01%. Further rise is indicated until a new top pivot has been found. DouYu International Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 DouYu International Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $8.58 and $7.49. 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, DouYu International Holdings Limited finds support just below today's level at $8.58. If this is broken, then the next support from accumulated volume will be at $7.49 and $7.38.

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 $0.630 between high and low, or 7.28%. For the last week, the stock has had daily average volatility of 3.60%.

The DouYu International Holdings Limited stock is extremely overbought on RSI14 (92). This increases the short-term risk substantially.

Our recommended stop-loss: $8.78 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (DOYU) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect DouYu International Holdings Limited to open at $9.01, and during the day (based on 14 day Average True Range), to move between $8.74 and $9.44, which gives a possible trading interval of +/-$0.354 (+/-3.89%) up or down from last closing price. If DouYu International Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.78% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $8.58, some $0.510 (5.61%) from the current price of $9.09, our system finds the risk reward attractive.

Is DouYu International Holdings Limited stock A Buy?

DouYu International Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.614 Strong Buy Candidate Upgraded

Predicted Opening Price for DouYu International Holdings Limited of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.