Dominion Resources Stock Forecast
Dominion Resources stock price ended at $49.19 on Thursday, after gaining 1.38%.
(Updated on Mar 28, 2024)
The Dominion Resources stock price gained 1.38% on the last trading day (Thursday, 28th Mar 2024), rising from $48.52 to $49.19. During the last trading day the stock fluctuated 1.84% from a day low at $48.46 to a day high of $49.35. The price has risen in 5 of the last 10 days and is up by 3.32% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately $264.86 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 has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $48.80, a level that may pose a second chance to hit a runner. According to fan-theory $52.49 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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D Signals & Forecast
The Dominion Resources 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 $48.23 and $46.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 01, 2024, and so far it has risen 9.82%. Further rise is indicated until a new top pivot has been found. 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. 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 Dominion Resources stock
Dominion Resources finds support from accumulated volume at $48.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.89 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: $46.65 (-5.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (D) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Dominion Resources to open at $49.00, and during the day (based on 14 day Average True Range), to move between $48.02 and $50.36, which gives a possible trading interval of +/-$1.17 (+/-2.39%) up or down from last closing price. If Dominion Resources takes out the full calculated possible swing range there will be an estimated 4.78% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $48.51, some $0.680 (1.38%) from the current price of $49.19, our system finds the risk reward attractive.
Is Dominion Resources stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Dominion Resources stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.
Current score: 3.691 Buy Candidate Unchanged
Predicted Opening Price for Dominion Resources of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$49.00 ( 0.386%) | $49.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for D
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 49.89 | 1.42 % | |
R2 | 49.55 | 0.732 % | ||
R1 | 49.34 | 0.305 % | ||
Current price: | 49.19 | |||
Support | S1 | 48.66 | -1.08 % | |
S2 | 48.45 | -1.50 % | ||
S3 | 48.11 | -2.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 49.19 | |||
Support | S1 | 48.51 | -1.38% | |
S2 | 47.86 | -2.70% | ||
S3 | 44.79 | -8.94% |
D Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 26, 2024 | Feb 29, 2024 | Mar 20, 2024 | $0.668 | 1.39% |
2 | Nov 02, 2023 | Nov 30, 2023 | Dec 20, 2023 | $0.670 | 1.42% |
3 | Aug 02, 2023 | Aug 31, 2023 | Sep 20, 2023 | $0.668 | 1.39% |
4 | May 10, 2023 | Jun 01, 2023 | Jun 20, 2023 | $0.668 | 1.26% |
5 | Feb 08, 2023 | Mar 02, 2023 | Mar 20, 2023 | $0.668 | 1.20% |
FAQ
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