DANAOS CORP (DAC) Stock Technical Analysis
USA - NYSE:DAC - MHY1968P1218 - Common Stock
We assign a technical rating of 7 out of 10 to DAC. Although DAC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Although DAC has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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69.43
When analyzing the support we can see 4 important areas.
- A support zone ranging from 89.79 to 90.75. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 85.70 to 86.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
- 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.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 95.46 to 96.77. 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 | 62.02 | NEUTRAL | DAC is not amongst the best or worst performers 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) | 70.95 | OVERBOUGHT | The high RSI value suggests DAC may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.8 | POSITIVE | The MACD value suggests DAC has a positive trend. |
| Stochastics (14,3) | 95.97 | OVERBOUGHT | The high Stochastics value suggests DAC may be overbought. |
| Average True Range in percent/ATR (20) | 1.76 | LOW VOLATILITY | The low ATR as a percentage value for DAC suggests low volalility. |
| Average Directional Index/ADX (14) | 28.25 | POSITIVE | The high ADX value value for DAC suggests a strong trend. |
95.25
+0.84 (+0.89%)
DANAOS CORP / DAC FAQ
What is the technical rating for DAC stock?
ChartMill assigns a technical rating of 7 / 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 70.9521. This indicates that the stock is currently overbought.
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.