Agree Realty Corporation Stock Forecast
Weaker technical forecast for Agree Realty Corporation as stock downgraded to Buy Candidate.
(Updated on May 10, 2024)
The Agree Realty Corporation stock price gained 1.11% on the last trading day (Friday, 10th May 2024), rising from $59.49 to $60.15. During the last trading day the stock fluctuated 1.21% from a day low at $59.46 to a day high of $60.18. The price has risen in 6 of the last 10 days and is up by 4.12% over the past 2 weeks. Volume fell on the last day by -174 thousand shares and in total, 603 thousand shares were bought and sold for approximately $36.30 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $59.21, a level that may pose a second chance to hit a runner. According to fan-theory $63.09 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ADC Signals & Forecast
Mostly positive signals in the chart today. The Agree Realty Corporation 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 $58.96 and $57.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.56%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Agree Realty Corporation stock
Agree Realty Corporation finds support from accumulated volume at $57.22 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 $0.720 (1.21%) between high and low. For the last week, the stock has had daily average volatility of 1.49%.
Our recommended stop-loss: $57.34 (-4.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (ADC) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Agree Realty Corporation to open at $59.93, and during the day (based on 14 day Average True Range), to move between $59.17 and $61.13, which gives a possible trading interval of +/-$0.98 (+/-1.63%) up or down from last closing price. If Agree Realty Corporation takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $57.22, some $2.93 (4.87%) from the current price of $60.15, our system finds the risk reward attractive.
Is Agree Realty Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Agree Realty Corporation stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.308 Buy Candidate Downgraded
Predicted Opening Price for Agree Realty Corporation of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $59.93 ( 0.366%) | $60.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.65 | 0.83 % | |
| R2 | 60.37 | 0.374 % | ||
| R1 | 60.21 | 0.0915 % | ||
| Current price: | 60.15 | |||
| Support | S1 | 59.65 | -0.82 % | |
| S2 | 59.49 | -1.11 % | ||
| S3 | 59.21 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 60.15 | |||
| Support | S1 | 57.22 | -4.87% | |
| S2 | 56.56 | -5.97% | ||
| S3 | 56.20 | -6.57% |
ADC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 14, 2024 | $0.250 | 0.416% |
| 2 | Mar 12, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.247 | 0.439% |
| 3 | Feb 08, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.247 | 0.447% |
| 4 | Jan 11, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.247 | 0.440% |
| 5 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.247 | 0.396% |
FAQ
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