Oil-Dri Corporation Of America Stock Forecast
Oil-Dri Corporation Of America stock price up 0.89% on Friday
(Updated on May 24, 2024)
The Oil-Dri Corporation Of America stock price gained 0.89% on the last trading day (Friday, 24th May 2024), rising from $81.02 to $81.74. During the last trading day the stock fluctuated 1.86% from a day low at $81.22 to a day high of $82.72. The price has fallen in 6 of the last 10 days and is down by -0.62% for this period. Volume fell on the last day by -23 thousand shares and in total, 7 thousand shares were bought and sold for approximately $595.56 thousand. 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 lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $82.87 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.44% during the next 3 months and, with a 90% probability hold a price between $79.56 and $93.18 at the end of this 3-month period.
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ODC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -0.84%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Oil-Dri Corporation Of America 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 $81.16 and $74.53. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Oil-Dri Corporation Of America stock
Oil-Dri Corporation Of America finds support from accumulated volume at $81.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.51 between high and low, or 1.86%. For the last week the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: $79.01 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (ODC) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Oil-Dri Corporation Of America to open at $81.89, and during the day (based on 14 day Average True Range), to move between $79.51 and $83.97, which gives a possible trading interval of +/-$2.23 (+/-2.73%) up or down from last closing price. If Oil-Dri Corporation Of America takes out the full calculated possible swing range there will be an estimated 5.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $81.66 (0.10%) than the resistance at $82.10 (0.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oil-Dri Corporation Of America 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 Oil-Dri Corporation Of America stock to perform well in the short-term.
Current score: 2.578 Buy Candidate Unchanged
Predicted Opening Price for Oil-Dri Corporation Of America of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $81.89 ( 0.187%) | $81.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ODC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.40 | 2.03 % | |
| R2 | 82.82 | 1.33 % | ||
| R1 | 82.47 | 0.89 % | ||
| Current price: | 81.74 | |||
| Support | S1 | 81.32 | -0.518 % | |
| S2 | 80.96 | -0.95 % | ||
| S3 | 80.39 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.43 | 0.84 % | |
| R2 | 82.25 | 0.624 % | ||
| R1 | 82.10 | 0.440 % | ||
| Current price | 81.74 | |||
| Support | S1 | 81.66 | -0.0979% | |
| S2 | 76.82 | -6.02% | ||
| S3 | 71.09 | -13.03% |
ODC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 24, 2024 | $0.290 | 0.355% |
| 2 | Dec 14, 2023 | Feb 22, 2024 | Mar 08, 2024 | $0.290 | 0.408% |
| 3 | Oct 04, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.290 | 0.502% |
| 4 | Jun 08, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.290 | 0.429% |
| 5 | Mar 22, 2023 | May 11, 2023 | May 26, 2023 | $0.280 | 0.732% |
FAQ
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