Draganfly Inc. Stock Forecast
Green day on Tuesday for Draganfly Inc. stock after gaining 0.85%
(Updated on Jul 02, 2024)
The Draganfly Inc. stock price gained 0.85% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.223 to $0.225. During the last trading day the stock fluctuated 9.52% from a day low at $0.210 to a day high of $0.230. The price has been going up and down for this period, and there has been a 4.7% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 55 thousand more shares were traded than the day before. In total, 232 thousand shares were bought and sold for approximately $52.18 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.70% during the next 3 months and, with a 90% probability hold a price between $0.181 and $0.294 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DPRO Signals & Forecast
There are mixed signals in the stock today. The Draganfly Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.226 and $0.252. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 6.89%. 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). Draganfly Inc. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Draganfly Inc. stock
Draganfly Inc. finds support from accumulated volume at $0.225 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0200 between high and low, or 9.52%. For the last week, the stock has had daily average volatility of 7.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DPRO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Draganfly Inc. to open at $0.222, and during the day (based on 14 day Average True Range), to move between $0.204 and $0.246, which gives a possible trading interval of +/-$0.0210 (+/-9.34%) up or down from last closing price. If Draganfly Inc. takes out the full calculated possible swing range there will be an estimated 18.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.225 (0.09%) than the resistance at $0.243 (8.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Draganfly Inc. stock A Buy?
Draganfly Inc. 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: -2.522 Sell Candidate Unchanged
Predicted Opening Price for Draganfly Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.222 ( 1.48%) | $0.225 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DPRO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.242 | 7.41% |
| R2 | 0.234 | 4.01% |
| R1 | 0.229 | 1.91% |
| Price | 0.225 | |
| S1 | 0.214 | -4.88% |
| S2 | 0.209 | -6.97% |
| S3 | 0.202 | -10.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.265 | 17.78% |
| R2 | 0.262 | 16.40% |
| R1 | 0.243 | 8.00% |
| Price | 0.225 | |
| S1 | 0.225 | -0.0889% |
| S2 | 0.221 | -1.91% |
| S3 | 0.200 | -11.11% |
FAQ
Click here for our free guide on how to buy Draganfly Inc. Stock.
