Davis Commodities Limited Stock Forecast
Red day on Wednesday for Davis Commodities Limited
(Updated on May 15, 2024)
The Davis Commodities Limited stock price fell by -3.54% on the last day (Wednesday, 15th May 2024) from $1.13 to $1.09. During the last trading day the stock fluctuated 7.33% from a day low at $1.09 to a day high of $1.17. The price has risen in 5 of the last 10 days and is up by 1.87% over the past 2 weeks. 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 -20 thousand shares and in total, 119 thousand shares were bought and sold for approximately $129.58 thousand.
The stock lies in the middle of a very 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 3.32% during the next 3 months and, with a 90% probability hold a price between $1.02 and $1.47 at the end of this 3-month period.
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DTCK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Davis Commodities Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.17 and $1.10. A break-up above any of these levels will issue buy signals. 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.
Support, Risk & Stop-loss for Davis Commodities Limited stock
Davis Commodities Limited finds support from accumulated volume at $1.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0799 between high and low, or 7.33%. For the last week the stock has had daily average volatility of 13.15%.
Our recommended stop-loss: $1.03 (-5.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (DTCK) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Davis Commodities Limited to open at $1.12, and during the day (based on 14 day Average True Range), to move between $0.94 and $1.24, which gives a possible trading interval of +/-$0.147 (+/-13.51%) up or down from last closing price. If Davis Commodities Limited takes out the full calculated possible swing range there will be an estimated 27.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.05 (3.67%) than the resistance at $1.19 (8.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Davis Commodities Limited stock A Buy?
Davis Commodities Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.478 Hold/Accumulate Unchanged
Predicted Opening Price for Davis Commodities Limited of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $1.12 ( 2.44%) | $1.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DTCK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 9.77 % | |
| R2 | 1.17 | 6.97 % | ||
| R1 | 1.15 | 5.24 % | ||
| Current price: | 1.09 | |||
| Support | S1 | 1.09 | -0.357 % | |
| S2 | 1.07 | -2.09 % | ||
| S3 | 1.04 | -4.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.30 | 19.27 % | |
| R2 | 1.22 | 11.93 % | ||
| R1 | 1.19 | 8.81 % | ||
| Current price | 1.09 | |||
| Support | S1 | 1.05 | -3.67% | |
| S2 | 1.04 | -4.59% | ||
| S3 | 1.03 | -5.50% |
FAQ
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