DR Horton Inc Stock Forecast
Red day on Friday for DR Horton Inc
(Updated on Apr 19, 2024)
The DR Horton Inc stock price fell by -2.55% on the last day (Friday, 19th Apr 2024) from $145.91 to $142.19. During the last trading day the stock fluctuated 3.79% from a day low at $141.47 to a day high of $146.83. The price has fallen in 6 of the last 10 days and is down by -10.3% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 3 million shares were bought and sold for approximately $389.76 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $151.66. A reaction back to this level may hold a second chance to get out before further falls.
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DHI Signals & Forecast
There are few to no technical positive signals at the moment. The DR Horton Inc 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 $147.34 and $154.33. 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 28, 2024, and so far it has fallen -13.59%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for DR Horton Inc stock
DR Horton Inc finds support from accumulated volume at $141.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $5.36 between high and low, or 3.79%. For the last week, the stock has had daily average volatility of 3.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DHI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect DR Horton Inc to open at $143.50, and during the day (based on 14 day Average True Range), to move between $137.67 and $146.71, which gives a possible trading interval of +/-$4.52 (+/-3.18%) up or down from last closing price. If DR Horton Inc takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $141.57 (0.44%) than the resistance at $143.13 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DR Horton Inc stock A Buy?
The DR Horton Inc stock holds several negative signals and despite the positive trend, we believe DR Horton Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.715 Sell Candidate Unchanged
Predicted Opening Price for DR Horton Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $143.50 ( 0.92%) | $142.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 148.86 | 4.69 % | |
| R2 | 146.81 | 3.25 % | ||
| R1 | 145.54 | 2.36 % | ||
| Current price: | 142.19 | |||
| Support | S1 | 141.45 | -0.521 % | |
| S2 | 140.18 | -1.41 % | ||
| S3 | 138.14 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 150.32 | 5.72 % | |
| R2 | 145.91 | 2.61 % | ||
| R1 | 143.13 | 0.661 % | ||
| Current price | 142.19 | |||
| Support | S1 | 141.57 | -0.436% | |
| S2 | 140.20 | -1.40% | ||
| S3 | 139.21 | -2.10% |
DHI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.300 | 0.211% |
| 2 | Nov 07, 2023 | Nov 20, 2023 | Nov 28, 2023 | $0.300 | 0.238% |
| 3 | Jul 20, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.250 | 0.203% |
| 4 | Apr 20, 2023 | May 02, 2023 | May 10, 2023 | $0.250 | 0.230% |
| 5 | Jan 24, 2023 | Feb 06, 2023 | Feb 14, 2023 | $0.250 | 0.252% |
FAQ
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