Diamondrock Hospitality Company Stock Forecast
Red day on Wednesday for Diamondrock Hospitality Company
(Updated on Apr 17, 2024)
The Diamondrock Hospitality Company stock price fell by -2.34% on the last day (Wednesday, 17th Apr 2024) from $8.99 to $8.78. During the last trading day the stock fluctuated 3.78% from a day low at $8.74 to a day high of $9.07. The price has been going up and down for this period, and there has been a -6.89% loss for the last 2 weeks. Volume has increased on the last day by 2 million 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, 5 million shares were bought and sold for approximately $42.87 million.
Given the current horizontal trend, you can expect Diamondrock Hospitality Company stock with a 90% probability to be traded between $8.95 and $10.04 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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DRH Signals & Forecast
There are few to no technical positive signals at the moment. The Diamondrock Hospitality Company 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 $9.26 and $9.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -10.41%. 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 Diamondrock Hospitality Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.330 between high and low, or 3.78%. For the last week the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRH) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Diamondrock Hospitality Company to open at $8.86, and during the day (based on 14 day Average True Range), to move between $8.55 and $9.01, which gives a possible trading interval of +/-$0.230 (+/-2.62%) up or down from last closing price. If Diamondrock Hospitality Company takes out the full calculated possible swing range there will be an estimated 5.25% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $9.31, some $0.530 (6.04%) from the current price of $8.78, our system finds the risk reward not very attractive.
Is Diamondrock Hospitality Company stock A Buy?
Diamondrock Hospitality Company holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.723 Sell Candidate Unchanged
Predicted Opening Price for Diamondrock Hospitality Company of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$8.86 ( 0.95%) | $8.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.19 | 4.71 % | |
R2 | 9.07 | 3.27 % | ||
R1 | 8.99 | 2.38 % | ||
Current price: | 8.78 | |||
Support | S1 | 8.74 | -0.487 % | |
S2 | 8.66 | -1.37 % | ||
S3 | 8.53 | -2.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.65 | 9.91 % | |
R2 | 9.35 | 6.49 % | ||
R1 | 9.31 | 6.04 % | ||
Current price | 8.78 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
DRH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 04, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0300 | 0.323% |
2 | Dec 01, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.0300 | 0.317% |
3 | Sep 06, 2023 | Sep 28, 2023 | Oct 12, 2023 | $0.0300 | 0.371% |
4 | Jun 01, 2023 | Jun 29, 2023 | Jul 12, 2023 | $0.0300 | 0.365% |
5 | Mar 02, 2023 | Mar 30, 2023 | Apr 12, 2023 | $0.0300 | 0.372% |
FAQ
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