DMLP Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Dorchester Minerals LP (DMLP) is currently trading near its Fibonacci pivot point of $30.00, with resistance levels at $30.36 and $30.96, and support at $29.63 and $29.04. The stock closed at $30.20 on March 24, showing a slight gain of 0.25% during regular market hours.
The Relative Strength Index (RSI) for DMLP is 46.39, indicating a neutral position—neither oversold nor overbought. The MACD is slightly negative, suggesting some bearish momentum, but the price action shows resilience with a recent gain of 0.25%.
News Sentiment and Insider Activity:
Recent news highlights insider buying activity, with CEO Bradley J. Ehrman purchasing 3,356 shares, signaling confidence in the company's long-term prospects. However, the oil market faces challenges due to economic uncertainty and OPEC+ production increases, which could impact energy stocks.
Price Prediction and Recommendation:
Based on the Fibonacci levels and recent price action, DMLP is expected to test the resistance at $30.36. If it breaks above this level, the next target could be $30.96. However, if it fails to breach $30.36, it may drop to $29.63.
Given the insider buying activity and the stock's current technical position, the price is predicted to reach $31.20 in the next trading week.
Recommendation: Buy DMLP at the current level, as the combination of insider confidence and potential technical upside suggests a favorable risk-reward ratio.
DMLP Similar Chart Price Prediction
The price of DMLP is predicted to go up -3.35%, based on the high correlation periods with TRV. The similarity of these two price pattern on the periods is 97.96%.
DMLP
TRV
Down: -3.35%Similarity: 97.96%
