The Descartes Systems Group Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for The Descartes Systems Group Inc. stock after gaining 0.189%
(Updated on May 03, 2024)
The The Descartes Systems Group Inc. stock price gained 0.189% on the last trading day (Friday, 3rd May 2024), rising from $95.30 to $95.48. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.28% from a day low at $94.51 to a day high of $96.66. The price has risen in 6 of the last 10 days and is up by 5.71% over the past 2 weeks. Volume fell on the last day by -64 thousand shares and in total, 124 thousand shares were bought and sold for approximately $11.83 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 7.27% during the next 3 months and, with a 90% probability hold a price between $95.31 and $105.33 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 $94.42 and $91.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 9.31%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for The Descartes Systems Group Inc. stock
The Descartes Systems Group Inc. finds support from accumulated volume at $94.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.16 between high and low, or 2.28%. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: $91.89 (-3.76%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (DSGX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect The Descartes Systems Group Inc. to open at $95.55, and during the day (based on 14 day Average True Range), to move between $93.38 and $97.58, which gives a possible trading interval of +/-$2.10 (+/-2.20%) 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 4.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $94.85, some $0.630 (0.66%) from the current price of $95.48, our system finds the risk reward attractive.
Is The Descartes Systems Group Inc. stock A Buy?
The 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.
Current score: 5.855 Strong Buy Candidate Unchanged
Predicted Opening Price for The Descartes Systems Group Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $95.55 ( 0.0716%) | $95.48 |
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 | 97.70 | 2.33 % | |
| R2 | 96.88 | 1.47 % | ||
| R1 | 96.37 | 0.93 % | ||
| Current price: | 95.48 | |||
| Support | S1 | 94.73 | -0.791 % | |
| S2 | 94.22 | -1.32 % | ||
| S3 | 93.39 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 95.48 | |||
| Support | S1 | 94.85 | -0.660% | |
| S2 | 94.50 | -1.03% | ||
| S3 | 94.10 | -1.45% |
FAQ
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