DANAOS CORP (DAC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:DAC - MHY1968P1218 - Common Stock
Taking everything into account, DAC scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, DAC has proven to be a steady performer, scoring decent points in every aspect analyzed.
DAC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 98.08. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 97.06, a Stop Loss order could be placed below this zone.
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69.43
When analyzing the support we can see 5 important areas.
- A support zone ranging from 95.78 to 97.06. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 88.60 to 89.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @85.70 from a horizontal line in the daily time frame.
- A support zone ranging from 83.63 to 84.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @70.13 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 98.08 to 98.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for DAC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for DAC is up. |
| ChartMill Relative Strength | 76.33 | POSITIVE | DAC has a high relative strength, it outperformed 76.33% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of DAC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DAC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of DAC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.11 | NEUTRAL | The RSI value for DAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests DAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 79.46 | NEUTRAL | The Stochastics value for DAC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.14 | MEDIUM VOLATILITY | The ATR as a percentage value for DAC suggests some volalility. |
| Average Directional Index/ADX (14) | 31.99 | POSITIVE | The high ADX value value for DAC suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 98.53 | 95.77 | 2.76 (2.80%) | 25.00% |
| An entry @98.53. This is a Buy Stop order right above the resistance zone. | An exit @95.77. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.76 points, which is 2.80%. | For a 0.70% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of DAC. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
98.07
+0.33 (+0.34%)
DANAOS CORP / DAC FAQ
What is the technical rating for DAC stock?
ChartMill assigns a technical rating of 10 / 10 to DAC.
Can you provide the trend direction for DANAOS CORP?
The current trend direction for DANAOS CORP (DAC) is Bullish.
What is the RSI signal for DAC stock?
DANAOS CORP (DAC) has an RSI value of 64.1055. This indicates that the stock is currently neutral.
Can you provide the short term momentum for DANAOS CORP?
The short term momentum for DANAOS CORP (DAC) is positive.
What is the buy/sell signal for DAC stock?
The buy/sell signal for DANAOS CORP (DAC) is buy as both the short term and long term trends are positive.