Donnelley Financial Solutions Inc Stock Forecast
Donnelley Financial Solutions Inc stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Donnelley Financial Solutions Inc stock price gained 0.610% on the last trading day (Wednesday, 27th Mar 2024), rising from $60.63 to $61.00. During the last trading day the stock fluctuated 0.705% from a day low at $60.89 to a day high of $61.31. The price has been going up and down for this period, and there has been a -4.54% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 167 thousand shares were bought and sold for approximately $10.21 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $60.57 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 2.72% during the next 3 months and, with a 90% probability hold a price between $62.22 and $67.82 at the end of this 3-month period.
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DFIN Signals & Forecast
The Donnelley Financial Solutions Inc 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 $61.42 and $63.15. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 0.81%. 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.
Support, Risk & Stop-loss for Donnelley Financial Solutions Inc stock
Donnelley Financial Solutions Inc finds support from accumulated volume at $60.60 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 $0.429 (0.705%) between high and low. For the last week, the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: $57.41 (-5.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (DFIN) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Donnelley Financial Solutions Inc to open at $61.07, and during the day (based on 14 day Average True Range), to move between $59.63 and $62.37, which gives a possible trading interval of +/-$1.37 (+/-2.24%) up or down from last closing price. If Donnelley Financial Solutions Inc takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $60.60 (0.66%) than the resistance at $62.23 (2.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Donnelley Financial Solutions Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.228 Buy Candidate Upgraded
Predicted Opening Price for Donnelley Financial Solutions Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$61.07 ( 0.109%) | $61.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DFIN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.50 | 0.81 % | |
R2 | 61.33 | 0.544 % | ||
R1 | 61.23 | 0.378 % | ||
Current price: | 61.00 | |||
Support | S1 | 60.90 | -0.160 % | |
S2 | 60.80 | -0.326 % | ||
S3 | 60.64 | -0.595 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.57 | 4.21 % | |
R2 | 63.44 | 4.00 % | ||
R1 | 62.23 | 2.02 % | ||
Current price | 61.00 | |||
Support | S1 | 60.60 | -0.656% | |
S2 | 60.55 | -0.738% | ||
S3 | 60.00 | -1.64% |
FAQ
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