Document Security Systems, Inc Stock Forecast
Red day on Friday for Document Security Systems, Inc stock after losing 1.69%
(Updated on Apr 19, 2024)
The Document Security Systems, Inc stock price fell by -1.69% on the last day (Friday, 19th Apr 2024) from $1.78 to $1.75. During the last trading day the stock fluctuated 1.15% from a day low at $1.74 to a day high of $1.76. The price has fallen in 6 of the last 10 days and is down by -6.77% for this period. 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 -4 thousand shares and in total, 2 thousand shares were bought and sold for approximately $2.67 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.68 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Document Security Systems, Inc stock with a 90% probability to be traded between $1.66 and $2.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DSS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Document Security Systems, 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 $1.81 and $1.88. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Document Security Systems, Inc stock
Document Security Systems, Inc finds support from accumulated volume at $1.72 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0200 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DSS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Document Security Systems, Inc to open at $1.75, and during the day (based on 14 day Average True Range), to move between $1.62 and $1.88, which gives a possible trading interval of +/-$0.128 (+/-7.32%) up or down from last closing price. If Document Security Systems, Inc takes out the full calculated possible swing range there will be an estimated 14.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.72 (1.71%) than the resistance at $1.95 (11.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Document Security Systems, Inc stock A Buy?
Document Security Systems, Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.831 Sell Candidate Unchanged
Predicted Opening Price for Document Security Systems, Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.75 ( 0%) | $1.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.77 | 1.14 % | |
| R2 | 1.76 | 0.706 % | ||
| R1 | 1.76 | 0.437 % | ||
| Current price: | 1.75 | |||
| Support | S1 | 1.74 | -0.437 % | |
| S2 | 1.74 | -0.706 % | ||
| S3 | 1.73 | -1.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 14.00 % | |
| R2 | 1.99 | 13.71 % | ||
| R1 | 1.95 | 11.43 % | ||
| Current price | 1.75 | |||
| Support | S1 | 1.72 | -1.71% | |
| S2 | 1.70 | -2.86% | ||
| S3 | 0 | . |
FAQ
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