Agree Realty Corporation Stock Forecast
Green day on Tuesday for Agree Realty Corporation
(Updated on Apr 23, 2024)
The Agree Realty Corporation stock price gained 1.27% on the last trading day (Tuesday, 23rd Apr 2024), rising from $56.90 to $57.62. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.34% from a day low at $56.90 to a day high of $57.66. The price has risen in 6 of the last 10 days but is still down by -1.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 230 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $67.12 million.
The stock lies the upper part of a falling 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 $57.98 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.82% during the next 3 months and, with a 90% probability hold a price between $50.64 and $55.18 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ADC Signals & Forecast
The Agree Realty Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $56.10 and $56.54. 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 4.95%. 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.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of $57.17. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Agree Realty Corporation stock
Agree Realty Corporation finds support from accumulated volume at $57.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.760 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: $55.10 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (ADC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Agree Realty Corporation to open at $57.39, and during the day (based on 14 day Average True Range), to move between $56.65 and $58.59, which gives a possible trading interval of +/-$0.97 (+/-1.68%) up or down from last closing price. If Agree Realty Corporation takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.11 (0.89%) than the resistance at $58.15 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Agree Realty Corporation stock A Buy?
Agree Realty Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.937 Hold/Accumulate Unchanged
Predicted Opening Price for Agree Realty Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $57.39 ( 0.393%) | $57.62 |
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 | 58.15 | 0.93 % | |
| R2 | 57.86 | 0.422 % | ||
| R1 | 57.68 | 0.110 % | ||
| Current price: | 57.62 | |||
| Support | S1 | 57.10 | -0.90 % | |
| S2 | 56.92 | -1.21 % | ||
| S3 | 56.63 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.10 | 2.57 % | |
| R2 | 58.45 | 1.44 % | ||
| R1 | 58.15 | 0.92 % | ||
| Current price | 57.62 | |||
| Support | S1 | 57.11 | -0.89% | |
| S2 | 56.56 | -1.84% | ||
| S3 | 56.20 | -2.46% |
ADC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 14, 2024 | $0.250 | 0.434% |
| 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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