Darden Restaurants Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Darden Restaurants Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Darden Restaurants Inc stock price gained 0.94% on the last trading day (Friday, 3rd May 2024), rising from $147.86 to $149.25. During the last trading day the stock fluctuated 1.36% from a day low at $147.77 to a day high of $149.78. The price has fallen in 6 of the last 10 days and is down by -2.13% for this period. Volume fell on the last day by -466 thousand shares and in total, 2 million shares were bought and sold for approximately $274.59 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $147.56 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.99% during the next 3 months and, with a 90% probability hold a price between $132.82 and $148.87 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
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 0.94%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Darden Restaurants 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 $152.83 and $159.26. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Darden Restaurants Inc stock
Darden Restaurants Inc finds support from accumulated volume at $147.86 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 $2.01 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: $141.13 (-5.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (DRI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Darden Restaurants Inc to open at $148.93, and during the day (based on 14 day Average True Range), to move between $146.53 and $151.97, which gives a possible trading interval of +/-$2.72 (+/-1.82%) up or down from last closing price. If Darden Restaurants Inc takes out the full calculated possible swing range there will be an estimated 3.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $147.86 (0.93%) than the resistance at $155.90 (4.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Darden Restaurants Inc stock A Buy?
Darden Restaurants Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.342 Hold/Accumulate Upgraded
Predicted Opening Price for Darden Restaurants Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $148.93 ( 0.212%) | $149.25 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 150.94 | 1.13 % | |
| R2 | 150.18 | 0.620 % | ||
| R1 | 149.70 | 0.302 % | ||
| Current price: | 149.25 | |||
| Support | S1 | 148.17 | -0.727 % | |
| S2 | 147.69 | -1.04 % | ||
| S3 | 146.92 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 165.11 | 10.63 % | |
| R2 | 163.24 | 9.37 % | ||
| R1 | 155.90 | 4.46 % | ||
| Current price | 149.25 | |||
| Support | S1 | 147.86 | -0.93% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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