Diamondrock Hospitality Company Stock Forecast
Red day on Wednesday for Diamondrock Hospitality Company stock after losing 0.562%
(Updated on May 01, 2024)
The Diamondrock Hospitality Company stock price fell by -0.562% on the last day (Wednesday, 1st May 2024) from $8.90 to $8.85. During the last trading day the stock fluctuated 2.33% from a day low at $8.80 to a day high of $9.00. The price has risen in 5 of the last 10 days and is up by 0.8% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -731 thousand shares and in total, 2 million shares were bought and sold for approximately $14.73 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $8.75 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Diamondrock Hospitality Company stock with a 90% probability to be traded between $8.61 and $9.57 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DRH Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.797%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Diamondrock Hospitality Company 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 $9.05 and $9.30. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Diamondrock Hospitality Company stock
Diamondrock Hospitality Company finds support from accumulated volume at $8.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.205 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRH) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Diamondrock Hospitality Company to open at $8.88, and during the day (based on 14 day Average True Range), to move between $8.64 and $9.06, which gives a possible trading interval of +/-$0.207 (+/-2.34%) up or down from last closing price. If Diamondrock Hospitality Company takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.83 (0.23%) than the resistance at $8.99 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Diamondrock Hospitality Company will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.160. We will update the financials statements for Diamondrock Hospitality Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.58% in the first trading day after earnings release.
Is Diamondrock Hospitality Company stock A Buy?
Diamondrock Hospitality Company holds several negative signals and is within a 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: -1.684 Sell Candidate Unchanged
Predicted Opening Price for Diamondrock Hospitality Company of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $8.88 ( 0.358%) | $8.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.09 | 2.67 % | |
| R2 | 9.01 | 1.79 % | ||
| R1 | 8.96 | 1.24 % | ||
| Current price: | 8.85 | |||
| Support | S1 | 8.80 | -0.527 % | |
| S2 | 8.75 | -1.07 % | ||
| S3 | 8.68 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.35 | 5.65 % | |
| R2 | 9.31 | 5.20 % | ||
| R1 | 8.99 | 1.58 % | ||
| Current price | 8.85 | |||
| Support | S1 | 8.83 | -0.226% | |
| S2 | 8.78 | -0.791% | ||
| S3 | 0 | . |
DRH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0300 | 0.323% |
| 2 | Dec 01, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.0300 | 0.317% |
| 3 | Sep 06, 2023 | Sep 28, 2023 | Oct 12, 2023 | $0.0300 | 0.371% |
| 4 | Jun 01, 2023 | Jun 29, 2023 | Jul 12, 2023 | $0.0300 | 0.365% |
| 5 | Mar 02, 2023 | Mar 30, 2023 | Apr 12, 2023 | $0.0300 | 0.372% |
FAQ
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