DANAOS CORP (DAC) Stock Technical Analysis
NYSE:DAC - MHY1968P1218 - Common Stock
91.97 USD
+0.02 (+0.02%)
92.3 USD
+0.33 (+0.36%)
Overall DAC gets a technical rating of 6 out of 10. 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.
In the last month DAC has a been trading in the 90.00 - 96.47 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been consolidating recently, but much resistance may still be present above.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
DAC is one of the better performing stocks in the Marine Transportation industry, it outperforms 79% of 35 stocks in the same industry.
DAC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so DAC is lagging the market slightly.
When compared to the yearly performance of all other stocks, DAC outperforms 65% of them, which is more or less in line with the market.
Although the technical rating is only medium, DAC does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 91.96, a Stop Loss order could be placed below this zone.
More info and screens
69.43
97.74
When analyzing the support we can see 2 important areas.
- A support zone ranging from 90.16 to 91.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 70.13 to 70.98. This zone is formed by a combination of multiple trend lines in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 92.47 to 95.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @96.77 from a horizontal line in the weekly time frame.
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 | NEUTRAL | NEUTRAL | The short term trend for DAC is neutral. |
| ChartMill Relative Strength | 65.54 | NEUTRAL | DAC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of DAC is below 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) | 48.88 | NEUTRAL | The RSI value for DAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.36 | NEGATIVE | The MACD value suggests DAC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 17.94 | OVERSOLD | The low Stochastics value suggests DAC may be oversold. |
| Average True Range in percent/ATR (20) | 1.95 | LOW VOLATILITY | The low ATR as a percentage value for DAC suggests low volalility. |
| Average Directional Index/ADX (14) | 12.78 | NEGATIVE | The low ADX value for DAC suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 92.48 | 90.93 | 1.55 (1.68%) | 25.00% |
| An entry @92.48. This is a Buy Stop order right above the 10 day moving average. | An exit @90.93. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.55 points, which is 1.68%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.42%. |
- 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.
91.97
+0.02 (+0.02%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMarine Transportation
Performance
% Chg0.02%
1 Week-1.69%
2 Weeks-0.66%
1 Month0.83%
3 Month7.82%
6 Month16.98%
12 Month12.1%
2 Year37.02%
3 Year32.81%
5 Year1721.19%
10 Year11.53%
15 Year66.31%
Volatility
ATR(14)1.54
ATR(20)%1.95%
ATR Inc-16.02%
Range Today1.24
ADR(20)1.77
ADR(20)%1.93%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS65.54
Mansfield0.09
10 Day High94.87
10 Day Low90.94
20 Day High96.47
20 Day Low90
52 Week High96.47
52 Week Low65.4
CS1 End91.96
CR1 Start92.47
Volume & EV
DER(3)-0.57%
DER(5)-3.28%
Volume62.00K
Volume Incr20.89%
Vol(5)81.06K
Vol(50)75.80K