DORCHESTER MINERALS LP (DMLP) Stock Technical Analysis
NASDAQ:DMLP • US25820R1059
We assign a technical rating of 5 out of 10 to DMLP. In the past year, DMLP was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
- 73% of all other stocks performed better in the past year than DMLP.
- DMLP is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 75% of 206 stocks in the same industry do better.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- In the last month DMLP has a been trading in the 23.35 - 25.83 range, which is quite wide. It is currently trading near the high of this range.
- DMLP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so DMLP is lagging the market.
Although the technical rating is only medium, DMLP does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 25.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 25.02, a Stop Loss order could be placed below this zone.
More info and screens
21.72
When analyzing the support we can see 3 important areas.
- A support zone ranging from 24.84 to 25.02. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @22.91 from a trend line in the daily time frame.
- A support zone ranging from 21.94 to 22.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 25.49 to 25.75. 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 | NEUTRAL | NEUTRAL | The long term trend for DMLP is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for DMLP is up. |
| ChartMill Relative Strength | 27.59 | NEGATIVE | DMLP has a low relative strength, it was outperformed by 72.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of DMLP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DMLP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of DMLP is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 62.33 | NEUTRAL | The RSI value for DMLP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests DMLP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 80.79 | OVERBOUGHT | The high Stochastics value suggests DMLP may be overbought. |
| Average True Range in percent/ATR (20) | 2.72 | MEDIUM VOLATILITY | The ATR as a percentage value for DMLP suggests some volalility. |
| Average Directional Index/ADX (14) | 17.41 | NEGATIVE | The low ADX value for DMLP suggests a weak or negative trend. |
25.48
+0.16 (+0.63%)
DORCHESTER MINERALS LP / DMLP FAQ
Can you provide the ChartMill technical rating for DORCHESTER MINERALS LP?
ChartMill assigns a technical rating of 5 / 10 to DMLP.
What is the trend direction for DMLP stock?
The current trend direction for DORCHESTER MINERALS LP (DMLP) is Bearish.
Can you provide the RSI signal for DORCHESTER MINERALS LP?
DORCHESTER MINERALS LP (DMLP) has an RSI value of 62.3349. This indicates that the stock is currently neutral.
What is the support and resistance level for DMLP stock?
DORCHESTER MINERALS LP (DMLP) has a support level at 25.02 and a resistance level at 25.49. Check the full technical report for our detailed analysis of DMLP support and resistance levels.