Darktrace plc Stock Forecast

Darktrace plc stock downgraded to Sell Candidate
(Updated on Jun 17, 2024)

DRKTF Signals & Forecast

There are few to no technical positive signals at the moment. The Darktrace plc 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 $7.41 and $7.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -5.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Darktrace plc 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Darktrace plc stock

On the downside, the stock finds support just below today's level from accumulated volume at $6.51 and $5.94. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Darktrace plc finds support just below today's level at $6.51. If this is broken, then the next support from accumulated volume will be at $5.94 and $5.85.

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 $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Darktrace plc is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (DRKTF) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Darktrace plc to open at $7.19, and during the day (based on 14 day Average True Range), to move between $7.09 and $7.29, which gives a possible trading interval of +/-$0.100 (+/-1.40%) up or down from last closing price. If Darktrace plc takes out the full calculated possible swing range there will be an estimated 2.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.40 (2.92%) than the support at $6.51 (9.53%), 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 Darktrace plc stock A Buy?

The Darktrace plc stock holds several negative signals and despite the positive trend, we believe Darktrace plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.257 Sell Candidate Downgraded

Predicted Opening Price for Darktrace plc of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.