Drew Industries Incorporated ($0.01 Par Stock Forecast
Drew Industries Incorporated ($0.01 Par stock price up 2.09% on Thursday
(Updated on Mar 28, 2024)
The Drew Industries Incorporated ($0.01 Par stock price gained 2.09% on the last trading day (Thursday, 28th Mar 2024), rising from $120.54 to $123.06. 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 2.92% from a day low at $119.65 to a day high of $123.14. The price has risen in 7 of the last 10 days and is up by 15.05% 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, 48 thousand more shares were traded than the day before. In total, 205 thousand shares were bought and sold for approximately $25.20 million.
The stock lies the upper part of a wide and falling 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 $125.77 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.09% during the next 3 months and, with a 90% probability hold a price between $104.29 and $123.14 at the end of this 3-month period.
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LCII Signals & Forecast
Mostly positive signals in the chart today. The Drew Industries Incorporated ($0.01 Par 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 $117.83 and $118.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 15.05%. 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.
Support, Risk & Stop-loss for Drew Industries Incorporated ($0.01 Par stock
On the downside, the stock finds support just below today's level from accumulated volume at $116.01 and $115.53. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Drew Industries Incorporated ($0.01 Par finds support just below today's level at $116.01. If this is broken, then the next support from accumulated volume will be at $115.53 and $114.90.
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 $3.49 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: $118.43 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (LCII) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Drew Industries Incorporated ($0.01 Par Value) to open at $121.95, and during the day (based on 14 day Average True Range), to move between $119.44 and $126.68, which gives a possible trading interval of +/-$3.62 (+/-2.94%) up or down from last closing price. If Drew Industries Incorporated ($0.01 Par Value) takes out the full calculated possible swing range there will be an estimated 5.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $123.90 (0.68%) than the support at $116.01 (5.73%), 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.
Is Drew Industries Incorporated ($0.01 Par Value) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.380 Buy Candidate Unchanged
Predicted Opening Price for Drew Industries Incorporated ($0.01 Par Value) of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$121.95 ( 0.90%) | $123.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LCII
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 125.44 | 1.93 % | |
R2 | 124.11 | 0.85 % | ||
R1 | 123.28 | 0.181 % | ||
Current price: | 123.06 | |||
Support | S1 | 120.62 | -1.98 % | |
S2 | 119.79 | -2.65 % | ||
S3 | 118.46 | -3.74 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 125.77 | 2.20 % | |
R2 | 124.48 | 1.15 % | ||
R1 | 123.90 | 0.683 % | ||
Current price | 123.06 | |||
Support | S1 | 116.01 | -5.73% | |
S2 | 115.53 | -6.12% | ||
S3 | 114.90 | -6.63% |
LCII Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Mar 07, 2024 | Mar 22, 2024 | $1.05 | 0.90% |
2 | Nov 16, 2023 | Nov 30, 2023 | Dec 15, 2023 | $1.05 | 0.84% |
3 | Aug 21, 2023 | Aug 31, 2023 | Sep 15, 2023 | $1.05 | 0.88% |
4 | May 18, 2023 | Jun 01, 2023 | Jun 16, 2023 | $1.05 | 0.87% |
5 | Feb 21, 2023 | Mar 09, 2023 | Jun 16, 2023 | $1.05 | 0.87% |
FAQ
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