Descartes Systems Group Inc. Stock Forecast
Descartes Systems Group Inc. stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Descartes Systems Group Inc. stock price gained 2.77% on the last trading day (Tuesday, 2nd Jul 2024), rising from $132.55 to $136.22. During the last trading day the stock fluctuated 2.40% from a day low at $133.30 to a day high of $136.50. The price has been going up and down for this period, and there has been a 4.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 thousand more shares were traded than the day before. In total, 131 thousand shares were bought and sold for approximately $17.87 million.
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 5.40% during the next 3 months and, with a 90% probability hold a price between $132.52 and $147.39 at the end of this 3-month period.
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DSG.TO Signals & Forecast
Mostly positive signals in the chart today. The Descartes Systems Group Inc. 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 $131.44 and $130.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 10.26%. 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 is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Friday, April 12, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 12, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Descartes Systems Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $129.16 and $125.86. 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, Descartes Systems Group Inc. finds support just below today's level at $129.16. If this is broken, then the next support from accumulated volume will be at $125.86 and $124.73.
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 $3.20 (2.40%) between high and low. For the last week, the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: $130.46 (-4.23%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (DSG.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Descartes Systems Group Inc. to open at $135.34, and during the day (based on 14 day Average True Range), to move between $133.60 and $138.84, which gives a possible trading interval of +/-$2.62 (+/-1.92%) up or down from last closing price. If Descartes Systems Group Inc. takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $136.54 (0.23%) than the support at $129.16 (5.18%), 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 Descartes Systems Group Inc. stock A Buy?
Descartes Systems Group Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.130 Strong Buy Candidate Upgraded
Predicted Opening Price for Descartes Systems Group Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $135.34 ( 0.646%) | $136.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 138.54 | 1.70% |
| R2 | 137.32 | 0.81% |
| R1 | 136.56 | 0.251% |
| Price | 136.22 | |
| S1 | 134.12 | -1.54% |
| S2 | 133.36 | -2.10% |
| S3 | 132.14 | -3.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 136.84 | 0.455% |
| R1 | 136.54 | 0.235% |
| Price | 136.22 | |
| S1 | 129.16 | -5.18% |
| S2 | 125.86 | -7.61% |
| S3 | 124.73 | -8.43% |
FAQ
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