Evaluation of Dixon Technologies (India) Limited stock downgraded after the last trading session. (Updated on August 31, 2021)
Sell candidate since 2021-08-31 PDF
The Dixon Technologies (India) Limited stock price gained 1.10% on the last trading day (Tuesday, 31st Aug 2021), rising from $4 115.20 to $4 160.40. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 2.87% from a day low at $4 105.05 to a day high of $4 222.90. The price has risen in 6 of the last 10 days and is up by 0.11% over the past 2 weeks. Volume fell on the last day by -72 thousand shares and in total, 241 thousand shares were bought and sold for approximately $1.00 billion. 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 middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.50% during the next 3 months and, with a 90% probability hold a price between $3 588.98 and $4 272.32 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, August 24, 2021, and so far it has risen 8.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dixon Technologies (India) Limited stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $4 292.77. On a fall, the stock will find some support from the short-term average at $3 987.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss
Dixon Technologies (India) Limited finds support from accumulated volume at $4 107.40 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 $117.85 between high and low, or 2.87%. For the last week, the stock has had a daily average volatility of 4.42%.
Since the Dixon Technologies (India) Limited has been rising for 6 days in a row, the risk over the next couple of days has increased.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Dixon Technologies (India) Limited stock A Buy?
Dixon Technologies (India) Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.877
Predicted Opening Price for Dixon Technologies (India) Limited of Wednesday, September 1, 2021
The predicted opening price is based on yesterdays movements between high, low, and the closing price.
|Fair opening price September 1, 2021||Current price|
|$4 162.78||$4 160.40 (Undervalued)|
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