Darden Restaurants Inc Stock Forecast
Evaluation of Darden Restaurants Inc stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
The Darden Restaurants Inc stock price fell by -0.655% on the last day (Friday, 21st Jun 2024) from $154.29 to $153.28. During the last trading day the stock fluctuated 2.14% from a day low at $151.75 to a day high of $155.00. The price has been going up and down for this period, and there has been a 2.11% gain for the last 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 -71 thousand shares and in total, 3 million shares were bought and sold for approximately $404.64 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $154.10 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.48% during the next 3 months and, with a 90% probability hold a price between $130.22 and $141.03 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DRI Signals & Forecast
The Darden Restaurants 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 $150.94 and $149.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 5.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Friday, June 14, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, June 14, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Darden Restaurants Inc stock
Darden Restaurants Inc finds support from accumulated volume at $151.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $3.25 between high and low, or 2.14%. For the last week the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $144.79 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (DRI) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Darden Restaurants Inc to open at $153.34, and during the day (based on 14 day Average True Range), to move between $150.34 and $156.22, which gives a possible trading interval of +/-$2.94 (+/-1.92%) up or down from last closing price. If Darden Restaurants Inc takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $153.58 (0.20%) than the support at $151.96 (0.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Darden Restaurants Inc stock A Buy?
Darden Restaurants 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: 0.864 Hold/Accumulate Downgraded
Predicted Opening Price for Darden Restaurants Inc of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$153.34 ( 0.0413%) | $153.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRI
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 156.59 | 2.16% |
R2 | 155.35 | 1.35% |
R1 | 154.58 | 0.85% |
Price | 153.28 | |
S1 | 152.10 | -0.769% |
S2 | 151.33 | -1.27% |
S3 | 150.09 | -2.08% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 155.90 | 1.71% |
R2 | 154.29 | 0.659% |
R1 | 153.58 | 0.196% |
Price | 153.28 | |
S1 | 151.96 | -0.86% |
S2 | 147.86 | -3.54% |
S3 | 147.48 | -3.78% |
DRI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Apr 09, 2024 | May 01, 2024 | $1.31 | 0.87% |
2 | Dec 15, 2023 | Jan 09, 2024 | Feb 01, 2024 | $1.31 | 0.783% |
3 | Sep 21, 2023 | Oct 06, 2023 | Nov 01, 2023 | $1.31 | 0.90% |
4 | Jun 22, 2023 | Jul 10, 2023 | Aug 01, 2023 | $1.31 | 0.787% |
5 | Jun 22, 2023 | Jul 07, 2023 | Aug 01, 2023 | $1.31 | 0.787% |
FAQ
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