Archer-Daniels-Midland Stock Forecast
Red day on Wednesday for Archer-Daniels-Midland stock after losing 0.372%
(Updated on Apr 24, 2024)
The Archer-Daniels-Midland stock price fell by -0.372% on the last day (Wednesday, 24th Apr 2024) from $61.79 to $61.56. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.30% from a day low at $60.42 to a day high of $61.81. The price has fallen in 7 of the last 10 days and is down by -3.65% for this period. Volume has increased on the last day by 482 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $184.59 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.66% during the next 3 months and, with a 90% probability hold a price between $73.97 and $81.04 at the end of this 3-month period.
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ADM Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -3.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Archer-Daniels-Midland stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $61.55 and $60.82. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Archer-Daniels-Midland stock
On the downside, the stock finds support just below today's level from accumulated volume at $58.27 and $54.94. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Archer-Daniels-Midland finds support just below today's level at $58.27. If this is broken, then the next support from accumulated volume will be at $54.94 and $51.38.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.39 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 2.11%.
Our recommended stop-loss: $59.18 (-3.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (ADM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Archer-Daniels-Midland Company to open at $61.26, and during the day (based on 14 day Average True Range), to move between $60.32 and $62.80, which gives a possible trading interval of +/-$1.24 (+/-2.01%) up or down from last closing price. If Archer-Daniels-Midland Company takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.47 (1.48%) than the support at $58.27 (5.34%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Archer-Daniels-Midland will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.35. We will update the financials statements for Archer-Daniels-Midland, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.86% in the first trading day after earnings release.
Is Archer-Daniels-Midland Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Archer-Daniels-Midland stock to perform well in the short-term.
Current score: 2.610 Buy Candidate Unchanged
Predicted Opening Price for Archer-Daniels-Midland Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $61.26 ( 0.482%) | $61.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.65 | 1.78 % | |
| R2 | 62.12 | 0.91 % | ||
| R1 | 61.79 | 0.381 % | ||
| Current price: | 61.56 | |||
| Support | S1 | 60.73 | -1.34 % | |
| S2 | 60.40 | -1.88 % | ||
| S3 | 59.87 | -2.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.99 | 2.32 % | |
| R2 | 62.81 | 2.03 % | ||
| R1 | 62.47 | 1.48 % | ||
| Current price | 61.56 | |||
| Support | S1 | 58.27 | -5.34% | |
| S2 | 54.94 | -10.75% | ||
| S3 | 51.38 | -16.54% |
ADM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 08, 2024 | Feb 29, 2024 | $0.500 | 0.94% |
| 2 | Jan 25, 2024 | Feb 07, 2024 | Feb 29, 2024 | $0.500 | 0.94% |
| 3 | Nov 01, 2023 | Nov 14, 2023 | Dec 06, 2023 | $0.450 | 0.615% |
| 4 | Aug 02, 2023 | Aug 15, 2023 | Sep 06, 2023 | $0.450 | 0.581% |
| 5 | May 04, 2023 | May 16, 2023 | Jun 07, 2023 | $0.450 | 0.613% |
FAQ
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