Analog Devices Stock Forecast

Analog Devices stock price ended at $189.93 on Tuesday, after gaining 1.94%.
(Updated on Apr 23, 2024)

ADI Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.58%. 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 Analog Devices stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $193.61. On a fall, the stock will find some support from the short-term average at $188.30. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, June 09, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Analog Devices stock

Analog Devices finds support from accumulated volume at $189.40 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 $4.36 (2.34%) between high and low. For the last week, the stock has had daily average volatility of 2.38%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ADI) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Analog Devices to open at $189.09, and during the day (based on 14 day Average True Range), to move between $185.03 and $194.83, which gives a possible trading interval of +/-$4.90 (+/-2.58%) up or down from last closing price. If Analog Devices takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $189.40 (0.28%) than the resistance at $193.72 (2.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Analog Devices stock A Buy?

Analog Devices holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.130 Sell Candidate Unchanged

Predicted Opening Price for Analog Devices of Wednesday, April 24, 2024

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