Buy Daktronics IncorporationShort Term Trading Advice by Naranj Capital
Buy Daktronics Incorporation
● Buy Range- 18.3 - 19
● Target- 20.5 - 21
● StopLoss- 17.2
● Potential Return- 9-11%
● Duration- 14-15 Trading Days
DAKT trade ideas
Daktronics: An OK Stock...Fundamentals :
Daktronics (DAKT) manufactures digi displays, scoreboards, statistics software and controllers. This company caught my attention because estimated eps for 2024 is over 500%. Funds are growing in number, but the quality of the funds are not A+ funds. I am learning more about the company since the financial crisis. It looks like they have recovered from a net loss. It is similar to LINK. Its sales have been over 30% q/q and y/y. Earnings are through the roof too. Their operations were affected in Shanghai by covid....and they recently overcame some supply chain distributions. It was around $2 Q1 2023. The price is still under $20, which is too cheap in my book. However, I like their recovery story. :)
Technicals :
Price is breaking out of a daily cup-w-handle patterns with growing volume.
Price is less than 15% off the highs from 2017.
Trade Plan:
Add a small position next week
Target is 16 and 40.
DAKT earnings play!Currently residing in a weekly orderblock with expected positive earnings and continued momentum by DAKT(Daktronics, Inc. designs, manufactures, markets, and sells electronic display systems and related products worldwide.
The company offers video display systems, such as displays to show various levels of video, graphics, and animation; indoor and outdoor light emitting diodes (LED) video displays, including centerhung, landmark, ribbon board, and corporate office entrance displays, as well as video walls and hanging banners; mobile and modular display systems; architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
It also provides control components for video displays in live event applications; message displays; ITS dynamic message signs, including LED displays for road management; mass transit displays; and sound systems for indoor and outdoor sports venues.
The company offers out-of-home advertising displays comprising digital billboards and street furniture displays; DataTime product line that consists of outdoor time and temperature displays; and Fuelight digit displays designed for the petroleum industry.
Expected target is the next daily/weekly orderblock above as well as a partial profits at 7.75, 8.30 and final target of 9-10.50 range. Good Luck!
$DAKT - golden crossthe set up is there
but the market is rough and choppy
be careful on entry and remember OPEX
looks for the best entry (i like 20 EMA, when possible) and ride out the golden cross for 10-20% gains
can take up to 25 days for this to get all its gains, its hard for folks to see a "red" stock in their port temporarily. If that's you, this is not the trade for you.
DAKT - bullish signsDaktronics is leader is electronic sign manuf., but cash flow is negative for past year and not good sign.
See Fib's going distance to high 5ish-low 6's. LED signs should be crushing it, otherwise DAKT as
small-cap better off being acquired. A Sign DAKT needs to get cash management fixed.
$DAKT approaching the 10 whole dollar resistance, look for short$DAKT has spiked nearing the $10 level, looking for the short in the morning, I have a loose stop because it could pass through the 10 dollar area and spike into the resistance last year. but if it goes above 10.30 then I'm out, but I will build into a short with the 10.30 area being my exit point.
