Deterra Royalties Limited Stock Forecast
Red day on Thursday for Deterra Royalties Limited
(Updated on Jun 20, 2024)
The Deterra Royalties Limited stock price fell by -0.484% on the last day (Thursday, 20th Jun 2024) from $4.13 to $4.11. During the last trading day the stock fluctuated 2.95% from a day low at $4.07 to a day high of $4.19. The price has fallen in 6 of the last 10 days and is down by -10.26% for this period. Volume has increased on the last day by 958 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $15.16 million.
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 $4.04 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.55% during the next 3 months and, with a 90% probability hold a price between $3.65 and $4.32 at the end of this 3-month period.
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DRR.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Deterra Royalties Limited 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 $4.21 and $4.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Deterra Royalties Limited stock
Deterra Royalties Limited finds support from accumulated volume at $4.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.120 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRR.AX) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Deterra Royalties Limited to open at $4.12, and during the day (based on 14 day Average True Range), to move between $3.99 and $4.23, which gives a possible trading interval of +/-$0.118 (+/-2.88%) up or down from last closing price. If Deterra Royalties Limited takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.15 (0.97%) than the support at $4.06 (1.22%), 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 Deterra Royalties Limited stock A Buy?
Deterra Royalties Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.288 Sell Candidate Unchanged
Predicted Opening Price for Deterra Royalties Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $4.12 ( 0.324%) | $4.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRR.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.24 | 3.24% |
| R2 | 4.20 | 2.13% |
| R1 | 4.17 | 1.44% |
| Price | 4.11 | |
| S1 | 4.08 | -0.791% |
| S2 | 4.05 | -1.48% |
| S3 | 4.00 | -2.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.87 | 18.49% |
| R2 | 4.81 | 17.03% |
| R1 | 4.15 | 0.97% |
| Price | 4.11 | |
| S1 | 4.06 | -1.22% |
| S2 | 0 | - |
| S3 | 0 | - |
DRR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Feb 22, 2024 | $0.149 | 3.01% |
| 2 | Aug 22, 2023 | Aug 22, 2023 | Sep 19, 2023 | $0.169 | 3.47% |
| 3 | Feb 24, 2023 | Feb 24, 2023 | Mar 23, 2023 | $0.120 | 2.73% |
| 4 | Aug 25, 2022 | Aug 25, 2022 | Sep 21, 2022 | $0.221 | 5.29% |
| 5 | Mar 11, 2022 | Mar 11, 2022 | Mar 31, 2022 | $0.117 | 2.42% |
FAQ
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