Dundee Precious Metals Inc. Stock Forecast
Evaluation of Dundee Precious Metals Inc. stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Dundee Precious Metals Inc. stock price gained 2.55% on the last trading day (Friday, 17th May 2024), rising from $10.98 to $11.26. During the last trading day the stock fluctuated 2.26% from a day low at $11.05 to a day high of $11.30. The price has risen in 5 of the last 10 days and is up by 5.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 357 thousand more shares were traded than the day before. In total, 357 thousand shares were bought and sold for approximately $4.02 million.
The stock lies in the middle of a 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 19.68% during the next 3 months and, with a 90% probability hold a price between $12.96 and $14.23 at the end of this 3-month period.
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DPM.TO Signals & Forecast
The Dundee Precious Metals Inc. 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 $10.96 and $10.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 8.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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 Dundee Precious Metals Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.25 and $9.85. 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, Dundee Precious Metals Inc. finds support just below today's level at $10.25. If this is broken, then the next support from accumulated volume will be at $9.85 and $8.78.
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 $0.250 between high and low, or 2.26%. For the last week the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: $10.73 (-4.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (DPM.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Dundee Precious Metals Inc. to open at $11.20, and during the day (based on 14 day Average True Range), to move between $10.95 and $11.57, which gives a possible trading interval of +/-$0.312 (+/-2.77%) up or down from last closing price. If Dundee Precious Metals Inc. takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.25, some $1.01 (8.97%) from the current price of $11.26, our system finds the risk reward attractive.
Is Dundee Precious Metals Inc. stock A Buy?
Dundee Precious Metals Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Dundee Precious Metals Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $11.20 ( 0.503%) | $11.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DPM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.45 | 1.72 % | |
| R2 | 11.36 | 0.87 % | ||
| R1 | 11.30 | 0.345 % | ||
| Current price: | 11.26 | |||
| Support | S1 | 11.11 | -1.35 % | |
| S2 | 11.05 | -1.88 % | ||
| S3 | 10.95 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 11.26 | |||
| Support | S1 | 10.25 | -8.97% | |
| S2 | 9.85 | -12.52% | ||
| S3 | 8.78 | -22.02% |
DPM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2024 | Jun 30, 2024 | Jul 15, 2024 | $0.0547 | 0.486% |
| 2 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.0546 | 0.485% |
| 3 | Feb 14, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0540 | 0.515% |
| 4 | Nov 07, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0560 | 0.666% |
| 5 | Aug 01, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.0530 | 0.621% |
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