Deep Yellow Limited Stock Forecast

Green day on Friday for Deep Yellow Limited
(Updated on Apr 19, 2024)

DYL.AX Signals & Forecast

The Deep Yellow Limited 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 $1.41. On a fall, the stock will find some support from the long-term average at approximately $1.33. 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. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.12%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Deep Yellow Limited stock

Deep Yellow Limited finds support from accumulated volume at $1.32 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 $0.0450 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 5.10%.

Our recommended stop-loss: $1.28 (-5.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (DYL.AX) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Deep Yellow Limited to open at $1.36, and during the day (based on 14 day Average True Range), to move between $1.28 and $1.42, which gives a possible trading interval of +/-$0.0654 (+/-4.84%) up or down from last closing price. If Deep Yellow Limited takes out the full calculated possible swing range there will be an estimated 9.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.32 (2.22%) than the resistance at $1.39 (2.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Deep Yellow Limited stock A Buy?

Deep Yellow 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: -0.278 Hold/Accumulate Unchanged

Predicted Opening Price for Deep Yellow Limited of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.