Leonardo DRS, Inc. Stock Forecast
Leonardo DRS, Inc. stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Leonardo DRS, Inc. stock price gained 1.31% on the last trading day (Friday, 26th Apr 2024), rising from $21.39 to $21.67. During the last trading day the stock fluctuated 1.44% from a day low at $21.48 to a day high of $21.79. The price has risen in 6 of the last 10 days and is up by 5.19% over the past 2 weeks. Volume fell on the last day by -49 thousand shares and in total, 363 thousand shares were bought and sold for approximately $7.87 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.51% during the next 3 months and, with a 90% probability hold a price between $21.93 and $25.66 at the end of this 3-month period.
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DRS Signals & Forecast
Mostly positive signals in the chart today. The Leonardo DRS, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.29 and $21.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 6.02%. 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.
Support, Risk & Stop-loss for Leonardo DRS, Inc. stock
Leonardo DRS, Inc. finds support from accumulated volume at $20.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.310 (1.44%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: $20.59 (-5.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (DRS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Leonardo DRS, Inc. to open at $21.65, and during the day (based on 14 day Average True Range), to move between $21.10 and $22.24, which gives a possible trading interval of +/-$0.573 (+/-2.64%) up or down from last closing price. If Leonardo DRS, Inc. takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.97 (1.38%) than the support at $20.95 (3.32%), 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.
Earnings coming up
Leonardo DRS, Inc. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.110. We will update the financials statements for Leonardo DRS, Inc. , that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.27% in the first trading day after earnings release.
Is Leonardo DRS, Inc. 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 Leonardo DRS, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.344 Buy Candidate Upgraded
Predicted Opening Price for Leonardo DRS, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $21.65 ( 0.108%) | $21.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.96 | 1.32 % | |
| R2 | 21.84 | 0.776 % | ||
| R1 | 21.77 | 0.439 % | ||
| Current price: | 21.67 | |||
| Support | S1 | 21.53 | -0.654 % | |
| S2 | 21.46 | -0.99 % | ||
| S3 | 21.34 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.04 | 6.32 % | |
| R2 | 22.93 | 5.81 % | ||
| R1 | 21.97 | 1.38 % | ||
| Current price | 21.67 | |||
| Support | S1 | 20.95 | -3.32% | |
| S2 | 20.91 | -3.51% | ||
| S3 | 20.44 | -5.68% |
FAQ
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