Archer Daniels Midland Company Stock Forecast
Weaker technical forecast for Archer Daniels Midland Company as stock downgraded to Strong Sell Candidate.
(Updated on Apr 25, 2024)
The Archer Daniels Midland Company stock price fell by -2.60% on the last day (Thursday, 25th Apr 2024) from £2,764.00 to £2,692.00. During the last trading day the stock fluctuated 2.89% from a day low at £2,682.00 to a day high of £2,759.50. The price has risen in 6 of the last 10 days and is up by 0.86% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -32 thousand shares and in total, 556 thousand shares were bought and sold for approximately £1.50 billion.
Given the current short-term trend, the stock is expected to rise 10.89% during the next 3 months and, with a 90% probability hold a price between £2,985.22 and £3,233.09 at the end of this 3-month period.
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ADM.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Archer Daniels Midland Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £2,738.29 and £2,726.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -5.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Archer Daniels Midland Company stock
Archer Daniels Midland Company finds support from accumulated volume at £2,666.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £77.50 (2.89%) between high and low. For the last week, the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADM.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Archer Daniels Midland Company to open at £2,711.17, and during the day (based on 14 day Average True Range), to move between £2,636.50 and £2,747.50, which gives a possible trading interval of +/-£55.50 (+/-2.06%) 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 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £2,694.00 (0.07%) than the support at £2,666.00 (0.97%), 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.
Is Archer Daniels Midland Company stock A Buy?
The Archer Daniels Midland Company stock holds several negative signals and despite the positive trend, we believe Archer Daniels Midland Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.463 Strong Sell Candidate Downgraded
Predicted Opening Price for Archer Daniels Midland Company of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £2,711.17 ( 0.712%) | £2,692.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,788.67 | 3.59 % | |
| R2 | 2,759.06 | 2.49 % | ||
| R1 | 2,740.77 | 1.81 % | ||
| Current price: | 2,692.00 | |||
| Support | S1 | 2,681.56 | -0.388 % | |
| S2 | 2,663.27 | -1.07 % | ||
| S3 | 2,633.67 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,799.00 | 3.97 % | |
| R2 | 2,734.00 | 1.56 % | ||
| R1 | 2,694.00 | 0.0743 % | ||
| Current price | 2,692.00 | |||
| Support | S1 | 2,666.00 | -0.97% | |
| S2 | 2,650.00 | -1.56% | ||
| S3 | 2,583.00 | -4.05% |
ADM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 07, 2024 | £52.00 | 1.93% |
| 2 | Mar 08, 2023 | May 04, 2023 | Jun 02, 2023 | £14.50 | 0.611% |
| 3 | Aug 10, 2022 | Sep 01, 2022 | Sep 30, 2022 | £60.80 | 3.18% |
| 4 | Mar 03, 2022 | May 05, 2022 | Jun 06, 2022 | £75.80 | 3.33% |
| 5 | Aug 11, 2021 | Sep 02, 2021 | Oct 01, 2021 | £73.10 | 2.33% |
FAQ
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