Driven Brands Holdings Inc. Stock Forecast
Red day on Friday for Driven Brands Holdings Inc. stock after losing 0.86%
(Updated on May 03, 2024)
The Driven Brands Holdings Inc. stock price fell by -0.86% on the last day (Friday, 3rd May 2024) from $11.69 to $11.59. During the last trading day the stock fluctuated 5.37% from a day low at $11.35 to a day high of $11.96. The price has been going up and down for this period, and there has been a -17.86% loss for the last 2 weeks. 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 -7 million shares and in total, 3 million shares were bought and sold for approximately $32.78 million.
Given the current short-term trend, the stock is expected to rise 6.79% during the next 3 months and, with a 90% probability hold a price between $12.38 and $17.31 at the end of this 3-month period.
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DRVN Signals & Forecast
There are few to no technical positive signals at the moment. The Driven Brands Holdings Inc. 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 $13.66 and $14.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -26.60%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Driven Brands Holdings Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.610 between high and low, or 5.37%. For the last week, the stock has had daily average volatility of 9.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRVN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Driven Brands Holdings Inc. to open at $11.63, and during the day (based on 14 day Average True Range), to move between $10.84 and $12.34, which gives a possible trading interval of +/-$0.749 (+/-6.46%) up or down from last closing price. If Driven Brands Holdings Inc. takes out the full calculated possible swing range there will be an estimated 12.93% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $11.69, some $0.1000 (0.86%) from the current price of $11.59, our system finds the risk reward not very attractive.
Is Driven Brands Holdings Inc. stock A Buy?
The Driven Brands Holdings Inc. stock holds several negative signals and despite the positive trend, we believe Driven Brands Holdings Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.025 Sell Candidate Unchanged
Predicted Opening Price for Driven Brands Holdings Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.63 ( 0.374%) | $11.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRVN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.24 | 5.64 % | |
| R2 | 12.01 | 3.63 % | ||
| R1 | 11.87 | 2.38 % | ||
| Current price: | 11.59 | |||
| Support | S1 | 11.40 | -1.64 % | |
| S2 | 11.26 | -2.88 % | ||
| S3 | 11.02 | -4.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.46 | 16.13 % | |
| R2 | 12.94 | 11.65 % | ||
| R1 | 11.69 | 0.86 % | ||
| Current price | 11.59 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
DRVN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2016 | Mar 31, 2016 | Apr 07, 2016 | $0.230 | 0% |
| 2 | Dec 31, 2015 | Dec 31, 2015 | Jan 08, 2016 | $0.0800 | 0% |
| 3 | Sep 30, 2015 | Sep 30, 2015 | Oct 07, 2015 | $0.100 | 0% |
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