Archer-Daniels-Midland Stock Forecast
Stronger technical forecast for Archer-Daniels-Midland stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Archer-Daniels-Midland stock price gained 2.46% on the last trading day (Tuesday, 2nd Jul 2024), rising from $60.64 to $62.13. During the last trading day the stock fluctuated 2.54% from a day low at $60.61 to a day high of $62.15. The price has risen in 6 of the last 10 days and is up by 3.27% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 520 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $142.11 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 $62.25 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 -2.04% during the next 3 months and, with a 90% probability hold a price between $56.32 and $60.98 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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ADM Signals & Forecast
The Archer-Daniels-Midland 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 $61.04 and $61.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 4.42%. 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 Archer-Daniels-Midland stock
Archer-Daniels-Midland finds support from accumulated volume at $61.59 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 $1.54 between high and low, or 2.54%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: $59.28 (-4.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (ADM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Archer-Daniels-Midland Company to open at $61.63, and during the day (based on 14 day Average True Range), to move between $60.89 and $63.37, which gives a possible trading interval of +/-$1.24 (+/-2.00%) up or down from last closing price. If Archer-Daniels-Midland Company takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.44 (0.50%) than the support at $61.59 (0.87%), 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 Archer-Daniels-Midland Company stock A Buy?
Archer-Daniels-Midland 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.467 Hold/Accumulate Upgraded
Predicted Opening Price for Archer-Daniels-Midland Company of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $61.63 ( 0.80%) | $62.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.17 | 1.67% |
| R2 | 62.58 | 0.727% |
| R1 | 62.22 | 0.142% |
| Price | 62.13 | |
| S1 | 61.04 | -1.75% |
| S2 | 60.68 | -2.34% |
| S3 | 60.09 | -3.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.89 | 2.83% |
| R2 | 62.63 | 0.80% |
| R1 | 62.44 | 0.499% |
| Price | 62.13 | |
| S1 | 61.59 | -0.87% |
| S2 | 61.27 | -1.38% |
| S3 | 58.66 | -5.59% |
ADM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 15, 2024 | Jun 05, 2024 | $0.500 | 0.82% |
| 2 | Jan 25, 2024 | Feb 08, 2024 | Feb 29, 2024 | $0.500 | 0.94% |
| 3 | Jan 25, 2024 | Feb 07, 2024 | Feb 29, 2024 | $0.500 | 0.94% |
| 4 | Nov 01, 2023 | Nov 14, 2023 | Dec 06, 2023 | $0.450 | 0.615% |
| 5 | Aug 02, 2023 | Aug 15, 2023 | Sep 06, 2023 | $0.450 | 0.581% |
FAQ
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