The Descartes Systems Group Inc. Stock Forecast
The Descartes Systems Group Inc. stock price ended at $94.50 on Wednesday, after gaining 0.425%.
(Updated on Apr 24, 2024)
The The Descartes Systems Group Inc. stock price gained 0.425% on the last trading day (Wednesday, 24th Apr 2024), rising from $94.10 to $94.50. 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 1.38% from a day low at $93.70 to a day high of $94.99. The price has risen in 6 of the last 10 days and is up by 6.26% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 103 thousand more shares were traded than the day before. In total, 506 thousand shares were bought and sold for approximately $47.86 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.68% during the next 3 months and, with a 90% probability hold a price between $91.42 and $100.82 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.
DSGX Signals & Forecast
Mostly positive signals in the chart today. The 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 $91.73 and $91.39. 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 8.19%. 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 is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Tuesday, March 05, 2024 with a target of $87.57. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for The Descartes Systems Group Inc. stock
The Descartes Systems Group Inc. finds support from accumulated volume at $94.10 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 $1.29 between high and low, or 1.38%. For the last week the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: $91.04 (-3.66%) (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 (DSGX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect The Descartes Systems Group Inc. to open at $94.40, and during the day (based on 14 day Average True Range), to move between $92.58 and $96.42, which gives a possible trading interval of +/-$1.92 (+/-2.03%) up or down from last closing price. If The Descartes Systems Group Inc. takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $94.10, some $0.400 (0.42%) from the current price of $94.50, our system finds the risk reward attractive.
Is The Descartes Systems Group Inc. stock A Buy?
The 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: 5.087 Strong Buy Candidate Unchanged
Predicted Opening Price for The Descartes Systems Group Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $94.40 ( 0.109%) | $94.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSGX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.69 | 1.26 % | |
| R2 | 95.19 | 0.734 % | ||
| R1 | 94.89 | 0.412 % | ||
| Current price: | 94.50 | |||
| Support | S1 | 93.90 | -0.631 % | |
| S2 | 93.60 | -0.95 % | ||
| S3 | 93.11 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 94.50 | |||
| Support | S1 | 94.10 | -0.423% | |
| S2 | 92.13 | -2.51% | ||
| S3 | 91.59 | -3.08% |
FAQ
Click here for our free guide on how to buy The Descartes Systems Group Inc. Stock.
