DXP Enterprises Stock Forecast
Green day on Friday for DXP Enterprises stock after gaining 0.638%
(Updated on Apr 19, 2024)
The DXP Enterprises stock price gained 0.638% on the last trading day (Friday, 19th Apr 2024), rising from $50.15 to $50.47. During the last trading day the stock fluctuated 2.93% from a day low at $49.84 to a day high of $51.30. The price has fallen in 7 of the last 10 days and is down by -9.44% for this period. Volume fell on the last day by -4 thousand shares and in total, 70 thousand shares were bought and sold for approximately $3.53 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $49.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 92.63% during the next 3 months and, with a 90% probability hold a price between $95.43 and $116.02 at the end of this 3-month period.
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DXPE Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. The DXP Enterprises stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $52.21. On a fall, the stock will find some support from the long-term average at approximately $49.64. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 DXP Enterprises stock
DXP Enterprises finds support from accumulated volume at $48.57 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 $1.46 between high and low, or 2.93%. For the last week, the stock has had daily average volatility of 3.50%.
Our recommended stop-loss: $47.54 (-5.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (DXPE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect DXP Enterprises to open at $50.54, and during the day (based on 14 day Average True Range), to move between $48.83 and $52.11, which gives a possible trading interval of +/-$1.64 (+/-3.26%) up or down from last closing price. If DXP Enterprises takes out the full calculated possible swing range there will be an estimated 6.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $51.22 (1.49%) than the support at $48.57 (3.76%), 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 DXP Enterprises stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.234 Buy Candidate Unchanged
Predicted Opening Price for DXP Enterprises of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $50.54 ( 0.132%) | $50.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DXPE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.00 | 3.02 % | |
| R2 | 51.44 | 1.92 % | ||
| R1 | 51.09 | 1.24 % | ||
| Current price: | 50.47 | |||
| Support | S1 | 49.98 | -0.97 % | |
| S2 | 49.63 | -1.66 % | ||
| S3 | 49.08 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.59 | 8.16 % | |
| R2 | 53.73 | 6.46 % | ||
| R1 | 51.22 | 1.49 % | ||
| Current price | 50.47 | |||
| Support | S1 | 48.57 | -3.76% | |
| S2 | 45.22 | -10.40% | ||
| S3 | 44.84 | -11.16% |
FAQ
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