The Descartes Systems Group Inc. Stock Forecast
The Descartes Systems Group Inc. stock price ended at $99.69 on Tuesday, after gaining 2.92%.
(Updated on Jul 02, 2024)
The The Descartes Systems Group Inc. stock price gained 2.92% on the last trading day (Tuesday, 2nd Jul 2024), rising from $96.86 to $99.69. During the last trading day the stock fluctuated 2.99% from a day low at $96.93 to a day high of $99.83. The price has risen in 7 of the last 10 days and is up by 5.12% over the past 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, 137 thousand shares were bought and sold for approximately $13.69 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 5.41% during the next 3 months and, with a 90% probability hold a price between $96.93 and $107.89 at the end of this 3-month period.
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DSGX Signals & Forecast
Mostly positive signals in the chart today. 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 $96.48 and $95.47. 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 10.35%. 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.
Support, Risk & Stop-loss for The Descartes Systems Group Inc. stock
The Descartes Systems Group Inc. finds support from accumulated volume at $97.60 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 $2.90 (2.99%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: $95.32 (-4.39%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (DSGX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect The Descartes Systems Group Inc. to open at $98.82, and during the day (based on 14 day Average True Range), to move between $97.82 and $101.56, which gives a possible trading interval of +/-$1.87 (+/-1.87%) 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 3.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $100.23 (0.54%) than the support at $97.60 (2.10%), 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 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.
Current score: 4.343 Buy Candidate Unchanged
Predicted Opening Price for The Descartes Systems Group Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $98.82 ( 0.88%) | $99.69 |
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 | |
|---|---|---|
| R3 | 101.71 | 2.03% |
| R2 | 100.60 | 0.92% |
| R1 | 99.92 | 0.232% |
| Price | 99.69 | |
| S1 | 97.71 | -1.99% |
| S2 | 97.03 | -2.67% |
| S3 | 95.92 | -3.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 100.23 | 0.542% |
| Price | 99.69 | |
| S1 | 97.60 | -2.10% |
| S2 | 94.85 | -4.86% |
| S3 | 94.50 | -5.21% |
FAQ
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