DHI Group Inc Stock Forecast
On Friday, DHI Group Inc stock price gained an impressive 5.53%
(Updated on Apr 19, 2024)
The DHI Group Inc stock price gained 5.53% on the last trading day (Friday, 19th Apr 2024), rising from $2.35 to $2.48. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.30% from a day low at $2.33 to a day high of $2.50. The price has risen in 6 of the last 10 days and is up by 3.77% over the past 2 weeks. Volume fell on the last day by -57 thousand shares and in total, 132 thousand shares were bought and sold for approximately $327.80 thousand. 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 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 $2.19 and $2.87 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
There are mixed signals in the stock today. 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 $2.51. On a fall, the stock will find some support from the short-term average at $2.32. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. 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.
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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.170 between high and low, or 7.30%. For the last week the stock has had daily average volatility of 6.72%.
Our recommended stop-loss: $2.39 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (DHX) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect DHI Group Inc to open at $2.44, and during the day (based on 14 day Average True Range), to move between $2.32 and $2.64, which gives a possible trading interval of +/-$0.157 (+/-6.35%) up or down from last closing price. If DHI Group Inc takes out the full calculated possible swing range there will be an estimated 12.69% 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 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: -0.414 Hold/Accumulate Unchanged
Predicted Opening Price for DHI Group Inc of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$2.44 ( 1.75%) | $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 | 2.61 | 5.11 % | |
R2 | 2.54 | 2.49 % | ||
R1 | 2.50 | 0.87 % | ||
Current price: | 2.48 | |||
Support | S1 | 2.37 | -4.37 % | |
S2 | 2.33 | -5.98 % | ||
S3 | 2.27 | -8.60 % |
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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