DroneShield Limited Stock Forecast
Volatile ride for DroneShield Limited stock price on Friday moving between $0.530 and $0.590
(Updated on May 03, 2024)
The DroneShield Limited stock price fell by -10.17% on the last day (Friday, 3rd May 2024) from $0.590 to $0.530. During the last trading day the stock fluctuated 11.32% from a day low at $0.530 to a day high of $0.590. The price has fallen in 7 of the last 10 days and is down by -9.4% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -46 thousand shares and in total, 10 thousand shares were bought and sold for approximately $5.19 thousand.
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 $0.528 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 29.39% during the next 3 months and, with a 90% probability hold a price between $0.683 and $0.97 at the end of this 3-month period.
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DRSHF Signals & Forecast
There are few to no technical positive signals at the moment. The DroneShield Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.556 and $0.543. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -26.17%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for DroneShield Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.469 and $0.430. 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 $0.469. If this is broken, then the next support from accumulated volume will be at $0.430 and $0.420.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 11.32%. For the last week the stock has had daily average volatility of 9.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRSHF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect DroneShield Limited to open at $0.550, and during the day (based on 14 day Average True Range), to move between $0.458 and $0.602, which gives a possible trading interval of +/-$0.0719 (+/-13.56%) up or down from last closing price. If DroneShield Limited takes out the full calculated possible swing range there will be an estimated 27.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.550 (3.77%) than the support at $0.469 (11.51%), 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?
The DroneShield Limited stock holds several negative signals and despite the positive trend, we believe DroneShield Limited 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 Buy to a Sell candidate.
Current score: -3.686 Sell Candidate Downgraded
Predicted Opening Price for DroneShield Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.550 ( 3.77%) | $0.530 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRSHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.610 | 15.09 % | |
| R2 | 0.587 | 10.77 % | ||
| R1 | 0.573 | 8.10 % | ||
| Current price: | 0.530 | |||
| Support | S1 | 0.527 | -0.551 % | |
| S2 | 0.513 | -3.22 % | ||
| S3 | 0.490 | -7.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.638 | 20.32 % | |
| R2 | 0.620 | 16.98 % | ||
| R1 | 0.550 | 3.77 % | ||
| Current price | 0.530 | |||
| Support | S1 | 0.469 | -11.51% | |
| S2 | 0.430 | -18.87% | ||
| S3 | 0.420 | -20.75% |
FAQ
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