Descartes Systems Group Inc. Stock Forecast
Green day on Wednesday for Descartes Systems Group Inc. stock after gaining 0.669%
(Updated on Apr 24, 2024)
The Descartes Systems Group Inc. stock price gained 0.669% on the last trading day (Wednesday, 24th Apr 2024), rising from $128.51 to $129.37. It has now gained 3 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 1.19% from a day low at $128.42 to a day high of $129.95. The price has been going up and down for this period, and there has been a 6.38% gain for the last 2 weeks. Volume fell on the last day by -88 thousand shares and in total, 102 thousand shares were bought and sold for approximately $13.15 million. 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 lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $131.13 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.72% during the next 3 months and, with a 90% probability hold a price between $128.11 and $139.94 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DSG.TO Signals & Forecast
Mostly positive signals in the chart today. The Descartes Systems Group 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 $125.99 and $124.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.48%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, April 12, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 12, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Descartes Systems Group Inc. stock
Descartes Systems Group Inc. finds support from accumulated volume at $128.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.53 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: $125.34 (-3.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (DSG.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Descartes Systems Group Inc. to open at $129.25, and during the day (based on 14 day Average True Range), to move between $126.88 and $131.86, which gives a possible trading interval of +/-$2.49 (+/-1.92%) up or down from last closing price. If Descartes Systems Group Inc. takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $128.51, some $0.86 (0.66%) from the current price of $129.37, our system finds the risk reward attractive.
Is Descartes Systems Group Inc. stock A Buy?
Descartes Systems Group Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.170 Strong Buy Candidate Unchanged
Predicted Opening Price for Descartes Systems Group Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $129.25 ( 0.0953%) | $129.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.78 | 1.09 % | |
| R2 | 130.19 | 0.636 % | ||
| R1 | 129.83 | 0.356 % | ||
| Current price: | 129.37 | |||
| Support | S1 | 128.66 | -0.547 % | |
| S2 | 128.30 | -0.83 % | ||
| S3 | 127.72 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 129.37 | |||
| Support | S1 | 128.51 | -0.665% | |
| S2 | 125.08 | -3.32% | ||
| S3 | 117.63 | -9.07% |
FAQ
Click here for our free guide on how to buy Descartes Systems Group Inc. Stock.
