DHI Group Inc Stock Forecast
Green day on Wednesday for DHI Group Inc
(Updated on Apr 24, 2024)
The DHI Group Inc stock price gained 2.06% on the last trading day (Wednesday, 24th Apr 2024), rising from $2.43 to $2.48. During the last trading day the stock fluctuated 4.20% from a day low at $2.38 to a day high of $2.48. The price has risen in 7 of the last 10 days and is up by 10.22% 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, 14 thousand more shares were traded than the day before. In total, 153 thousand shares were bought and sold for approximately $378.36 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect DHI Group Inc stock with a 90% probability to be traded between $1.99 and $2.81 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DHX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 13.24%. Further rise is indicated until a new top pivot has been found. DHI Group Inc 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DHI Group Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.50. On a fall, the stock will find some support from the short-term average at $2.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for DHI Group Inc stock
DHI Group Inc finds support from accumulated volume at $2.42 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 $0.100 between high and low, or 4.20%. For the last week, the stock has had daily average volatility of 4.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DHX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect DHI Group Inc to open at $2.45, and during the day (based on 14 day Average True Range), to move between $2.33 and $2.63, which gives a possible trading interval of +/-$0.146 (+/-5.88%) up or down from last closing price. If DHI Group Inc takes out the full calculated possible swing range there will be an estimated 11.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.52 (1.61%) than the support at $2.42 (2.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is DHI Group Inc stock A Buy?
DHI Group Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.047 Sell Candidate Unchanged
Predicted Opening Price for DHI Group Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $2.45 ( 1.34%) | $2.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.55 | 2.69 % | |
| R2 | 2.51 | 1.15 % | ||
| R1 | 2.48 | 0.196 % | ||
| Current price: | 2.48 | |||
| Support | S1 | 2.41 | -2.88 % | |
| S2 | 2.38 | -3.84 % | ||
| S3 | 2.35 | -5.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.65 | 6.85 % | |
| R2 | 2.55 | 2.82 % | ||
| R1 | 2.52 | 1.61 % | ||
| Current price | 2.48 | |||
| Support | S1 | 2.42 | -2.42% | |
| S2 | 2.41 | -2.82% | ||
| S3 | 2.25 | -9.27% |
FAQ
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