The Descartes Systems Group Inc. Stock Forecast
Evaluation of The Descartes Systems Group Inc. stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
No changes to the price of The Descartes Systems Group Inc. stock on the last trading day (Thursday, 25th Apr 2024). During the last trading day the stock fluctuated 2.37% from a day low at $92.87 to a day high of $95.07. The price has risen in 5 of the last 10 days and is up by 4.94% over the past 2 weeks.
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 5.18% during the next 3 months and, with a 90% probability hold a price between $92.20 and $101.60 at the end of this 3-month period.
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DSGX Signals & Forecast
The 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 $92.25 and $91.59. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for The Descartes Systems Group Inc. stock
The Descartes Systems Group Inc. finds support from accumulated volume at $94.10 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 $2.20 (2.37%) between high and low. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: $91.02 (-3.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (DSGX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect The Descartes Systems Group Inc. to open at $94.15, and during the day (based on 14 day Average True Range), to move between $92.56 and $96.44, which gives a possible trading interval of +/-$1.94 (+/-2.05%) up or down from last closing price. If The Descartes Systems Group Inc. takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $94.10, some $0.400 (0.42%) from the current price of $94.50, our system finds the risk reward attractive.
Is The Descartes Systems Group 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 The Descartes Systems Group Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.758 Buy Candidate Downgraded
Predicted Opening Price for The Descartes Systems Group Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $94.15 ( 0.374%) | $94.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSGX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.35 | 1.95 % | |
| R2 | 95.51 | 1.06 % | ||
| R1 | 94.99 | 0.515 % | ||
| Current price: | 94.50 | |||
| Support | S1 | 93.31 | -1.26 % | |
| S2 | 92.79 | -1.81 % | ||
| S3 | 91.95 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 94.50 | |||
| Support | S1 | 94.10 | -0.423% | |
| S2 | 92.13 | -2.51% | ||
| S3 | 91.59 | -3.08% |
FAQ
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