The Dixie Group Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
The Dixie Group stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The The Dixie Group stock price fell by -3.05% on the last day (Wednesday, 1st May 2024) from $0.538 to $0.522. During the last trading day the stock fluctuated 4.41% from a day low at $0.510 to a day high of $0.533. The price has been going up and down for this period, and there has been a 0.89% gain for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 thousand shares were bought and sold for approximately $3.40 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.37% during the next 3 months and, with a 90% probability hold a price between $0.392 and $0.496 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
A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 8.43%. 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 The Dixie Group 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 $0.526 and $0.541. A break-up above any of these levels will issue buy signals. The Dixie Group gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for The Dixie Group stock
The Dixie Group finds support from accumulated volume at $0.516 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 $0.0225 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 6.24%.
Our recommended stop-loss: $0.495 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (DXYN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect The Dixie Group to open at $0.522, and during the day (based on 14 day Average True Range), to move between $0.483 and $0.561, which gives a possible trading interval of +/-$0.0393 (+/-7.53%) up or down from last closing price. If The Dixie Group takes out the full calculated possible swing range there will be an estimated 15.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.516 (1.21%) than the resistance at $0.576 (10.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.400 Hold/Accumulate Upgraded
Predicted Opening Price for The Dixie Group of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.522 ( 0.0958%) | $0.522 |
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 | 0.544 | 4.21 % | |
| R2 | 0.535 | 2.57 % | ||
| R1 | 0.530 | 1.55 % | ||
| Current price: | 0.522 | |||
| Support | S1 | 0.513 | -1.74 % | |
| S2 | 0.508 | -2.76 % | ||
| S3 | 0.499 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.618 | 18.39 % | |
| R2 | 0.600 | 14.94 % | ||
| R1 | 0.576 | 10.34 % | ||
| Current price | 0.522 | |||
| Support | S1 | 0.516 | -1.21% | |
| S2 | 0.499 | -4.41% | ||
| S3 | 0.481 | -7.78% |
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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