Diana Shipping Stock Forecast
Diana Shipping stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Diana Shipping stock price gained 2.72% on the last trading day (Thursday, 2nd May 2024), rising from $2.94 to $3.02. During the last trading day the stock fluctuated 3.05% from a day low at $2.95 to a day high of $3.04. The price has risen in 6 of the last 10 days and is up by 4.5% 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, 296 thousand more shares were traded than the day before. In total, 708 thousand shares were bought and sold for approximately $2.14 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Diana Shipping stock with a 90% probability to be traded between $2.80 and $3.06 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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DSX Signals & Forecast
Mostly positive signals in the chart today. The Diana Shipping 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 $2.95 and $2.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 6.71%. 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 Diana Shipping stock
Diana Shipping finds support from accumulated volume at $2.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0900 between high and low, or 3.05%. For the last week the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $2.86 (-5.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (DSX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Diana Shipping inc to open at $3.00, and during the day (based on 14 day Average True Range), to move between $2.97 and $3.07, which gives a possible trading interval of +/-$0.0533 (+/-1.77%) up or down from last closing price. If Diana Shipping inc takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.04 (0.66%) than the support at $2.92 (3.31%), 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 Diana Shipping inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Diana Shipping stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.015 Buy Candidate Upgraded
Predicted Opening Price for Diana Shipping inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $3.00 ( 0.552%) | $3.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.09 | 2.43 % | |
| R2 | 3.06 | 1.29 % | ||
| R1 | 3.04 | 0.587 % | ||
| Current price: | 3.02 | |||
| Support | S1 | 2.97 | -1.69 % | |
| S2 | 2.95 | -2.39 % | ||
| S3 | 2.91 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.10 | 2.65 % | |
| R2 | 3.06 | 1.32 % | ||
| R1 | 3.04 | 0.662 % | ||
| Current price | 3.02 | |||
| Support | S1 | 2.92 | -3.31% | |
| S2 | 2.90 | -3.97% | ||
| S3 | 2.88 | -4.64% |
DSX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 04, 2024 | Mar 12, 2024 | $0.0750 | 2.44% |
| 2 | Nov 24, 2023 | Nov 24, 2023 | Dec 04, 2023 | $0.150 | 4.32% |
| 3 | Aug 01, 2023 | Aug 11, 2023 | Sep 08, 2023 | $0.150 | 4.21% |
| 4 | May 26, 2023 | Jun 09, 2023 | Jul 10, 2023 | $0.150 | 3.97% |
| 5 | Feb 22, 2023 | Mar 10, 2023 | Jul 10, 2023 | $0.150 | 3.97% |
FAQ
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