Fresh Del Monte Produce Inc Stock Forecast
Fresh Del Monte Produce Inc stock price ended at $24.47 on Friday, after gaining 0.493%.
(Updated on May 10, 2024)
The Fresh Del Monte Produce Inc stock price gained 0.493% on the last trading day (Friday, 10th May 2024), rising from $24.35 to $24.47. During the last trading day the stock fluctuated 1.95% from a day low at $24.05 to a day high of $24.52. The price has risen in 6 of the last 10 days but is still down by -4.49% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 163 thousand shares were bought and sold for approximately $3.99 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.58% during the next 3 months and, with a 90% probability hold a price between $25.77 and $27.91 at the end of this 3-month period.
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FDP Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fresh Del Monte Produce Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $24.62 and $25.32. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fresh Del Monte Produce Inc stock
Fresh Del Monte Produce Inc finds support from accumulated volume at $23.92 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.470 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FDP) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Fresh Del Monte Produce Inc to open at $24.35, and during the day (based on 14 day Average True Range), to move between $23.96 and $24.98, which gives a possible trading interval of +/-$0.506 (+/-2.07%) up or down from last closing price. If Fresh Del Monte Produce Inc takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.89 (1.72%) than the support at $23.92 (2.25%), 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 Fresh Del Monte Produce Inc stock A Buy?
The Fresh Del Monte Produce Inc stock holds several negative signals and despite the positive trend, we believe Fresh Del Monte Produce Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.892 Sell Candidate Unchanged
Predicted Opening Price for Fresh Del Monte Produce Inc of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $24.35 ( 0.504%) | $24.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.82 | 1.42 % | |
| R2 | 24.64 | 0.683 % | ||
| R1 | 24.53 | 0.230 % | ||
| Current price: | 24.47 | |||
| Support | S1 | 24.17 | -1.24 % | |
| S2 | 24.06 | -1.69 % | ||
| S3 | 23.88 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.03 | 6.38 % | |
| R2 | 25.12 | 2.66 % | ||
| R1 | 24.89 | 1.72 % | ||
| Current price | 24.47 | |||
| Support | S1 | 23.92 | -2.25% | |
| S2 | 23.28 | -4.86% | ||
| S3 | 23.18 | -5.27% |
FDP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | May 15, 2024 | Jun 07, 2024 | $0.250 | 1.02% |
| 2 | Feb 23, 2024 | Mar 06, 2024 | Mar 29, 2024 | $0.250 | 0.96% |
| 3 | Oct 31, 2023 | Nov 14, 2023 | Dec 08, 2023 | $0.200 | 0.84% |
| 4 | Aug 01, 2023 | Aug 15, 2023 | Sep 08, 2023 | $0.200 | 0.793% |
| 5 | May 02, 2023 | May 16, 2023 | Jun 09, 2023 | $0.200 | 0.744% |
FAQ
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