Corteva, Inc. Stock Forecast
Stronger technical forecast for Corteva, Inc. stock price after Tuesday trading.
(Updated on May 07, 2024)
The Corteva, Inc. stock price gained 2.06% on the last trading day (Tuesday, 7th May 2024), rising from $56.36 to $57.52. During the last trading day the stock fluctuated 2.17% from a day low at $56.66 to a day high of $57.89. The price has been going up and down for this period, and there has been a 4.24% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $306.68 million.
The stock lies in the upper part of a weak 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 $58.43 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.11% during the next 3 months and, with a 90% probability hold a price between $55.43 and $60.25 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTVA Signals & Forecast
Mostly positive signals in the chart today. The Corteva, Inc. 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 $55.94 and $55.77. 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 7.88%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Corteva, Inc. stock
Corteva, Inc. finds support from accumulated volume at $55.09 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 $1.23 (2.17%) between high and low. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: $54.75 (-4.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (CTVA) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Corteva, Inc. to open at $57.36, and during the day (based on 14 day Average True Range), to move between $56.31 and $58.73, which gives a possible trading interval of +/-$1.21 (+/-2.11%) up or down from last closing price. If Corteva, Inc. takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $57.67 (0.26%) than the support at $55.09 (4.22%), 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 Corteva, Inc. stock A Buy?
Corteva, Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.251 Strong Buy Candidate Upgraded
Predicted Opening Price for Corteva, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $57.36 ( 0.284%) | $57.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTVA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.59 | 1.85 % | |
| R2 | 58.12 | 1.04 % | ||
| R1 | 57.83 | 0.533 % | ||
| Current price: | 57.52 | |||
| Support | S1 | 56.89 | -1.10 % | |
| S2 | 56.60 | -1.61 % | ||
| S3 | 56.13 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 57.68 | 0.278 % | ||
| R1 | 57.67 | 0.261 % | ||
| Current price | 57.52 | |||
| Support | S1 | 55.09 | -4.22% | |
| S2 | 54.68 | -4.94% | ||
| S3 | 53.24 | -7.44% |
CTVA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Jun 04, 2024 | Jun 18, 2024 | $0.160 | 0.278% |
| 2 | Feb 29, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.160 | 0.290% |
| 3 | Nov 02, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.160 | 0.344% |
| 4 | Jul 21, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.160 | 0.304% |
| 5 | Apr 21, 2023 | May 31, 2023 | Sep 15, 2023 | $0.150 | 0.285% |
FAQ
Click here for our free guide on how to buy Corteva, Inc. Stock.
