Adcorp Holdings Limited Stock Forecast
Adcorp Holdings Limited stock price ended at $385.00 on Friday, after losing 2.53%.
(Updated on May 17, 2024)
The Adcorp Holdings Limited stock price fell by -2.53% on the last day (Friday, 17th May 2024) from $395.00 to $385.00. During the last trading day the stock fluctuated 4.68% from a day low at $385.00 to a day high of $403.00. The price has fallen in 4 of the last 10 days and is down by -10.05% for this period. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 30 thousand shares were bought and sold for approximately $11.60 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $392.74. A reaction back to this level may hold a second chance to get out before further falls.
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ADR.JO Signals & Forecast
There are few to no technical positive signals at the moment. The Adcorp Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $402.43 and $411.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -16.30%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Thursday, April 25, 2024 and based on theory for this formation the price should fall by -10.88% to $343.13 within 23 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Adcorp Holdings Limited stock
Adcorp Holdings Limited finds support from accumulated volume at $382.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $18.00 between high and low, or 4.68%. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADR.JO) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Adcorp Holdings Limited to open at $391.00, and during the day (based on 14 day Average True Range), to move between $366.00 and $404.00, which gives a possible trading interval of +/-$19.00 (+/-4.93%) up or down from last closing price. If Adcorp Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $382.00 (0.78%) than the resistance at $390.00 (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 Adcorp Holdings Limited stock A Buy?
The Adcorp Holdings Limited stock holds several negative signals and despite the positive trend, we believe Adcorp Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.121 Sell Candidate Unchanged
Predicted Opening Price for Adcorp Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $391.00 ( 1.56%) | $385.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADR.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 409.00 | 6.23 % | |
| R2 | 402.12 | 4.45 % | ||
| R1 | 397.88 | 3.34 % | ||
| Current price: | 385.00 | |||
| Support | S1 | 384.12 | -0.228 % | |
| S2 | 379.88 | -1.33 % | ||
| S3 | 373.00 | -3.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 427.00 | 10.91 % | |
| R2 | 420.00 | 9.09 % | ||
| R1 | 390.00 | 1.30 % | ||
| Current price | 385.00 | |||
| Support | S1 | 382.00 | -0.779% | |
| S2 | 380.00 | -1.30% | ||
| S3 | 366.00 | -4.94% |
ADR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 17, 2024 | Jan 17, 2024 | Jan 17, 2024 | $0 | 0% |
| 2 | Aug 16, 2023 | Aug 16, 2023 | Aug 16, 2023 | $91.30 | 17.56% |
| 3 | Jan 18, 2023 | Jan 18, 2023 | Jan 18, 2023 | $12.20 | 2.33% |
| 4 | Aug 17, 2022 | Aug 17, 2022 | Aug 17, 2022 | $47.00 | 8.56% |
| 5 | Aug 14, 2019 | Aug 14, 2019 | Aug 14, 2019 | $96.10 | 4.37% |
FAQ
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