Agree Realty Corporation Stock Forecast

Stronger technical forecast for Agree Realty Corporation stock price after Wednesday trading.
(Updated on Apr 24, 2024)

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, 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 $56.47 and $56.57. 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 6.32%. 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.

Buy

Special Signal Notification

Double Bottom Formation

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 $1.76 between high and low, or 3.08%. For the last week the stock has had daily average volatility of 1.88%.

Since the Agree Realty Corporation has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $56.03 (-4.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (ADC) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Agree Realty Corporation to open at $58.09, and during the day (based on 14 day Average True Range), to move between $57.34 and $59.40, which gives a possible trading interval of +/-$1.03 (+/-1.76%) up or down from last closing price. If Agree Realty Corporation takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $58.45 (0.14%) than the support at $57.11 (2.16%), 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 Agree Realty Corporation stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.485 Buy Candidate Upgraded

Predicted Opening Price for Agree Realty Corporation of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.