DroneShield Limited Stock Forecast
Stronger technical forecast for DroneShield Limited stock price after Friday trading.
(Updated on May 03, 2024)
The DroneShield Limited stock price gained 2.47% on the last trading day (Friday, 3rd May 2024), rising from $0.81 to $0.83. During the last trading day the stock fluctuated 3.73% from a day low at $0.81 to a day high of $0.84. The price has fallen in 6 of the last 10 days and is down by -25.89% for this period. Volume fell on the last day by -2 million shares and in total, 7 million shares were bought and sold for approximately $5.41 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 part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.776 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.27% during the next 3 months and, with a 90% probability hold a price between $1.03 and $1.55 at the end of this 3-month period.
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DRO.AX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -25.89%. 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). The DroneShield Limited 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 $0.82 and $0.82. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for DroneShield Limited stock
DroneShield Limited finds support from accumulated volume at $0.795 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0300 between high and low, or 3.73%. For the last week, the stock has had daily average volatility of 4.96%.
Our recommended stop-loss: $0.784 (-5.54%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (DRO.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect DroneShield Limited to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.768 and $0.89, which gives a possible trading interval of +/-$0.0615 (+/-7.41%) up or down from last closing price. If DroneShield Limited takes out the full calculated possible swing range there will be an estimated 14.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.84 (0.60%) than the support at $0.795 (4.22%), 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 DroneShield Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for DroneShield Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.961 Buy Candidate Upgraded
Predicted Opening Price for DroneShield Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.82 ( 0.80%) | $0.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRO.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | 2.81 % | |
| R2 | 0.84 | 1.43 % | ||
| R1 | 0.83 | 0.578 % | ||
| Current price: | 0.83 | |||
| Support | S1 | 0.81 | -2.18 % | |
| S2 | 0.80 | -3.04 % | ||
| S3 | 0.793 | -4.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.94 | 13.25 % | |
| R2 | 0.93 | 12.05 % | ||
| R1 | 0.84 | 0.602 % | ||
| Current price | 0.83 | |||
| Support | S1 | 0.795 | -4.22% | |
| S2 | 0.690 | -16.87% | ||
| S3 | 0.685 | -17.47% |
FAQ
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