Domino's Pizza Inc Stock Forecast
Domino's Pizza Inc stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Domino's Pizza Inc stock price gained 2.10% on the last trading day (Tuesday, 23rd Apr 2024), rising from $471.28 to $481.16. During the last trading day the stock fluctuated 2.52% from a day low at $471.61 to a day high of $483.51. The price has fallen in 8 of the last 10 days and is down by -3.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 90 thousand more shares were traded than the day before. In total, 597 thousand shares were bought and sold for approximately $287.47 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $472.65 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 19.61% during the next 3 months and, with a 90% probability hold a price between $565.36 and $621.02 at the end of this 3-month period.
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DPZ Signals & Forecast
The Domino's Pizza Inc 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 $480.62 and $473.10. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 10, 2024, and so far it has fallen -5.06%. 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).
Support, Risk & Stop-loss for Domino's Pizza Inc stock
Domino's Pizza Inc finds support from accumulated volume at $459.00 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 $11.91 (2.52%) between high and low. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: $455.40 (-5.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (DPZ) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Domino's Pizza Inc to open at $478.76, and during the day (based on 14 day Average True Range), to move between $470.92 and $491.40, which gives a possible trading interval of +/-$10.24 (+/-2.13%) up or down from last closing price. If Domino's Pizza Inc takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $483.00 (0.38%) than the support at $459.00 (4.61%), 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
Domino's Pizza Inc will release earnings BMO on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.35. We will update the financials statements for Domino's Pizza Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.03% in the first trading day after earnings release.
Is Domino's Pizza Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Domino's Pizza Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.283 Buy Candidate Upgraded
Predicted Opening Price for Domino's Pizza Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $478.76 ( 0.499%) | $481.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DPZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 490.66 | 1.98 % | |
| R2 | 486.12 | 1.03 % | ||
| R1 | 483.31 | 0.446 % | ||
| Current price: | 481.16 | |||
| Support | S1 | 474.21 | -1.44 % | |
| S2 | 471.40 | -2.03 % | ||
| S3 | 466.85 | -2.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 505.86 | 5.13 % | |
| R2 | 492.13 | 2.28 % | ||
| R1 | 483.00 | 0.382 % | ||
| Current price | 481.16 | |||
| Support | S1 | 459.00 | -4.61% | |
| S2 | 446.27 | -7.25% | ||
| S3 | 433.65 | -9.87% |
DPZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Mar 29, 2024 | $1.51 | 0.304% |
| 2 | Oct 10, 2023 | Dec 14, 2023 | Dec 29, 2023 | $1.21 | 0.294% |
| 3 | Jul 20, 2023 | Sep 14, 2023 | Sep 29, 2023 | $1.21 | 0.319% |
| 4 | Apr 25, 2023 | Jun 14, 2023 | Jun 30, 2023 | $1.21 | 0.359% |
| 5 | Feb 21, 2023 | Mar 14, 2023 | Mar 30, 2023 | $1.21 | 0.369% |
FAQ
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