Deluxe Corporation Stock Forecast
Deluxe Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Deluxe Corporation stock price fell by -1.18% on the last day (Thursday, 25th Apr 2024) from $20.29 to $20.05. During the last trading day the stock fluctuated 1.61% from a day low at $19.87 to a day high of $20.19. The price has been going up and down for this period, and there has been a 2.66% gain for the last 2 weeks. Volume has increased on the last day by 21 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 189 thousand shares were bought and sold for approximately $3.79 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Deluxe Corporation stock with a 90% probability to be traded between $18.38 and $20.36 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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DLX Signals & Forecast
The Deluxe Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19.73 and $19.75. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Deluxe Corporation stock
Deluxe Corporation finds support from accumulated volume at $19.55 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 $0.320 between high and low, or 1.61%. For the last week, the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: $19.31 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (DLX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Deluxe Corporation to open at $20.04, and during the day (based on 14 day Average True Range), to move between $19.53 and $20.57, which gives a possible trading interval of +/-$0.522 (+/-2.60%) up or down from last closing price. If Deluxe Corporation takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.41 (1.80%) than the support at $19.55 (2.49%), 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.
Earnings coming up
Deluxe Corporation will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.700. We will update the financials statements for Deluxe Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.99% in the first trading day after earnings release.
Is Deluxe Corporation stock A Buy?
Deluxe Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.007 Hold/Accumulate Upgraded
Predicted Opening Price for Deluxe Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $20.04 ( 0.0665%) | $20.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.36 | 1.53 % | |
| R2 | 20.23 | 0.92 % | ||
| R1 | 20.16 | 0.543 % | ||
| Current price: | 20.05 | |||
| Support | S1 | 19.91 | -0.676 % | |
| S2 | 19.84 | -1.05 % | ||
| S3 | 19.72 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.77 | 3.59 % | |
| R2 | 20.49 | 2.19 % | ||
| R1 | 20.41 | 1.80 % | ||
| Current price | 20.05 | |||
| Support | S1 | 19.55 | -2.49% | |
| S2 | 19.49 | -2.79% | ||
| S3 | 18.91 | -5.69% |
DLX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 04, 2024 | $0.300 | 1.57% |
| 2 | Nov 02, 2023 | Nov 17, 2023 | Dec 04, 2023 | $0.300 | 1.56% |
| 3 | Aug 03, 2023 | Aug 18, 2023 | Sep 05, 2023 | $0.300 | 1.54% |
| 4 | May 04, 2023 | May 19, 2023 | Jun 05, 2023 | $0.300 | 1.86% |
| 5 | Feb 02, 2023 | Feb 17, 2023 | Mar 06, 2023 | $0.300 | 1.69% |
FAQ
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