DroneShield Limited Stock Forecast
Stronger technical forecast for DroneShield Limited stock price after Friday trading.
(Updated on May 24, 2024)
The DroneShield Limited stock price gained 2.79% on the last trading day (Friday, 24th May 2024), rising from $0.90 to $0.92. During the last trading day the stock fluctuated 5.71% from a day low at $0.88 to a day high of $0.93. The price has fallen in 5 of the last 10 days and is down by -3.66% for this period. Volume fell on the last day by -929 thousand shares and in total, 3 million shares were bought and sold for approximately $3.06 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 $0.85 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 31.56% during the next 3 months and, with a 90% probability hold a price between $1.12 and $1.63 at the end of this 3-month period.
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DRO.AX Signals & Forecast
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 $0.90 and $0.90. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -17.86%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for DroneShield Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.84 and $0.83. 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, DroneShield Limited finds support just below today's level at $0.84. If this is broken, then the next support from accumulated volume will be at $0.83 and $0.795.
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 $0.0500 between high and low, or 5.71%. For the last week, the stock has had daily average volatility of 5.79%.
Our recommended stop-loss: $0.87 (-5.09%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (DRO.AX) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect DroneShield Limited to open at $0.91, and during the day (based on 14 day Average True Range), to move between $0.87 and $0.97, which gives a possible trading interval of +/-$0.0535 (+/-5.81%) up or down from last closing price. If DroneShield Limited takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.93 (1.09%) than the support at $0.84 (9.24%), 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: 3.405 Buy Candidate Upgraded
Predicted Opening Price for DroneShield Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $0.91 ( 1.45%) | $0.92 |
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 | 0.96 | 3.99 % | |
| R2 | 0.94 | 1.91 % | ||
| R1 | 0.93 | 0.627 % | ||
| Current price: | 0.92 | |||
| Support | S1 | 0.89 | -3.53 % | |
| S2 | 0.88 | -4.81 % | ||
| S3 | 0.86 | -6.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 21.74 % | |
| R2 | 0.94 | 2.17 % | ||
| R1 | 0.93 | 1.09 % | ||
| Current price | 0.92 | |||
| Support | S1 | 0.84 | -9.24% | |
| S2 | 0.83 | -9.78% | ||
| S3 | 0.795 | -13.59% |
FAQ
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