Archer Daniels Midland Company Stock Forecast
Stronger technical forecast for Archer Daniels Midland Company stock price after Friday trading.
(Updated on Apr 26, 2024)
The Archer Daniels Midland Company stock price gained 0.260% on the last trading day (Friday, 26th Apr 2024), rising from £2,692.00 to £2,699.00. During the last trading day the stock fluctuated 1.61% from a day low at £2,672.00 to a day high of £2,715.00. The price has risen in 6 of the last 10 days and is up by 1.05% over the past 2 weeks. Volume fell on the last day by -340 thousand shares and in total, 216 thousand shares were bought and sold for approximately £583.27 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £2,696.47 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 10.50% during the next 3 months and, with a 90% probability hold a price between £2,979.70 and £3,223.95 at the end of this 3-month period.
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ADM.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Archer Daniels Midland Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £2,739.71 and £2,727.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -4.86%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Archer Daniels Midland Company stock
Archer Daniels Midland Company finds support from accumulated volume at £2,692.00 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 £43.00 (1.61%) between high and low. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADM.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Archer Daniels Midland Company to open at £2,695.33, and during the day (based on 14 day Average True Range), to move between £2,644.38 and £2,753.62, which gives a possible trading interval of +/-£54.62 (+/-2.02%) 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 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2,692.00 (0.26%) than the resistance at £2,734.00 (1.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Archer Daniels Midland Company stock A Buy?
The Archer Daniels Midland Company stock holds several negative signals and despite the positive trend, we believe Archer Daniels Midland Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.006 Sell Candidate Upgraded
Predicted Opening Price for Archer Daniels Midland Company of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £2,695.33 ( 0.136%) | £2,699.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,738.33 | 1.46 % | |
| R2 | 2,721.91 | 0.85 % | ||
| R1 | 2,711.76 | 0.473 % | ||
| Current price: | 2,699.00 | |||
| Support | S1 | 2,678.91 | -0.744 % | |
| S2 | 2,668.76 | -1.12 % | ||
| S3 | 2,652.33 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,830.00 | 4.85 % | |
| R2 | 2,799.00 | 3.71 % | ||
| R1 | 2,734.00 | 1.30 % | ||
| Current price | 2,699.00 | |||
| Support | S1 | 2,692.00 | -0.259% | |
| S2 | 2,650.00 | -1.82% | ||
| S3 | 2,583.00 | -4.30% |
ADM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 07, 2024 | £52.00 | 1.93% |
| 2 | Mar 08, 2023 | May 04, 2023 | Jun 02, 2023 | £14.50 | 0.611% |
| 3 | Aug 10, 2022 | Sep 01, 2022 | Sep 30, 2022 | £60.80 | 3.18% |
| 4 | Mar 03, 2022 | May 05, 2022 | Jun 06, 2022 | £75.80 | 3.33% |
| 5 | Aug 11, 2021 | Sep 02, 2021 | Oct 01, 2021 | £73.10 | 2.33% |
FAQ
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