The Dixie Group Stock Forecast
High volatility in The Dixie Group stock price on Thursday which ended trading at $0.681
(Updated on May 02, 2024)
The The Dixie Group stock price gained 30.46% on the last trading day (Thursday, 2nd May 2024), rising from $0.522 to $0.681. During the last trading day the stock fluctuated 50.00% from a day low at $0.500 to a day high of $0.750. The price has risen in 6 of the last 10 days and is up by 32.26% 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, 173 thousand more shares were traded than the day before. In total, 180 thousand shares were bought and sold for approximately $122.52 thousand.
Given the current short-term trend, the stock is expected to fall -9.65% during the next 3 months and, with a 90% probability hold a price between $0.412 and $0.615 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DXYN Signals & Forecast
The The Dixie Group 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 $0.549 and $0.545. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 41.46%. 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). The Dixie Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for The Dixie Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.618 and $0.600. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The Dixie Group finds support just below today's level at $0.618. If this is broken, then the next support from accumulated volume will be at $0.600 and $0.576.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.250 (50.00%) between high and low. For the last week, the stock has had daily average volatility of 15.10%.
Our recommended stop-loss: $0.649 (-4.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (DXYN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect The Dixie Group to open at $0.644, and during the day (based on 14 day Average True Range), to move between $0.627 and $0.735, which gives a possible trading interval of +/-$0.0544 (+/-7.99%) up or down from last closing price. If The Dixie Group takes out the full calculated possible swing range there will be an estimated 15.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.618, some $0.0630 (9.25%) from the current price of $0.681, our system finds the risk reward attractive.
Earnings coming up
The Dixie Group will release earnings BMO on Thursday, May 02, 2024. We will update the financials statements for The Dixie Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.63% in the first trading day after earnings release.
Is The Dixie Group stock A Buy?
The Dixie Group 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for The Dixie Group of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.644 ( 5.48%) | $0.681 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DXYN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 31.23 % | |
| R2 | 0.798 | 17.21 % | ||
| R1 | 0.739 | 8.54 % | ||
| Current price: | 0.681 | |||
| Support | S1 | 0.548 | -19.51 % | |
| S2 | 0.489 | -28.17 % | ||
| S3 | 0.394 | -42.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.681 | |||
| Support | S1 | 0.618 | -9.25% | |
| S2 | 0.600 | -11.89% | ||
| S3 | 0.576 | -15.42% |
DXYN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 31, 1998 | Sep 10, 1998 | Sep 25, 1998 | $0.0500 | 0.727% |
| 2 | May 04, 1998 | May 13, 1998 | May 29, 1998 | $0.0500 | 0.385% |
| 3 | Feb 19, 1998 | Mar 04, 1998 | Mar 20, 1998 | $0.0500 | 0.404% |
| 4 | Nov 21, 1994 | Nov 21, 1994 | Dec 09, 1994 | $0.0500 | 0.701% |
| 5 | Aug 23, 1994 | Aug 23, 1994 | Sep 09, 1994 | $0.0500 | 0.579% |
FAQ
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