Direct Digital Holdings, Inc. Stock Forecast
Volatile ride for Direct Digital Holdings, Inc. stock price on Friday moving between $5.52 and $6.35
(Updated on Apr 26, 2024)
The Direct Digital Holdings, Inc. stock price fell by -7.19% on the last day (Friday, 26th Apr 2024) from $6.12 to $5.68. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 15.09% from a day low at $5.52 to a day high of $6.35. The price has fallen in 8 of the last 10 days and is down by -39.77% for this period. Volume has increased on the last day by 76 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 142 thousand shares were bought and sold for approximately $809.37 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.84 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.17% during the next 3 months and, with a 90% probability hold a price between $4.06 and $25.00 at the end of this 3-month period.
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DRCT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Direct Digital Holdings, 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 $6.63 and $16.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -82.53%. Further fall is indicated until a new bottom pivot has been found. Direct Digital Holdings, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Direct Digital Holdings, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.83 between high and low, or 15.09%. For the last week, the stock has had daily average volatility of 10.66%.
Direct Digital Holdings, Inc. is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRCT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Direct Digital Holdings, Inc. to open at $5.85, and during the day (based on 14 day Average True Range), to move between $3.93 and $7.43, which gives a possible trading interval of +/-$1.75 (+/-30.79%) up or down from last closing price. If Direct Digital Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 61.58% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.24, some $0.560 (9.86%) from the current price of $5.68, our system finds the risk reward not very attractive.
Is Direct Digital Holdings, Inc. stock A Buy?
Direct Digital Holdings, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.710 Strong Sell Candidate Unchanged
Predicted Opening Price for Direct Digital Holdings, Inc. of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$5.85 ( 3.01%) | $5.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRCT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.68 | 17.67 % | |
R2 | 6.37 | 12.07 % | ||
R1 | 6.17 | 8.61 % | ||
Current price: | 5.68 | |||
Support | S1 | 5.53 | -2.59 % | |
S2 | 5.34 | -6.05 % | ||
S3 | 5.02 | -11.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.93 | 22.01 % | |
R2 | 6.92 | 21.83 % | ||
R1 | 6.24 | 9.86 % | ||
Current price | 5.68 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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