Adcorp Holdings Limited Stock Forecast
A very red day for Adcorp Holdings Limited stock price after a -7.71% fall in the Friday trading session
(Updated on May 31, 2024)
The Adcorp Holdings Limited stock price fell by -7.71% on the last day (Friday, 31st May 2024) from $428.00 to $395.00. During the last trading day the stock fluctuated 8.35% from a day low at $395.00 to a day high of $428.00. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 91 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, 98 thousand shares were bought and sold for approximately $38.55 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $390.47 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 7.92% during the next 3 months and, with a 90% probability hold a price between $421.37 and $527.22 at the end of this 3-month period.
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ADR.JO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Adcorp Holdings Limited 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 $423.86 and $418.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -10.02%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Adcorp Holdings Limited stock
Adcorp Holdings Limited finds support from accumulated volume at $385.00 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 $33.00 between high and low, or 8.35%. For the last week, the stock has had daily average volatility of 6.70%.
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 3rd
For the upcoming trading day on Monday, 3rd we expect Adcorp Holdings Limited to open at $406.00, and during the day (based on 14 day Average True Range), to move between $370.75 and $419.25, which gives a possible trading interval of +/-$24.25 (+/-6.14%) up or down from last closing price. If Adcorp Holdings Limited takes out the full calculated possible swing range there will be an estimated 12.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $400.00 (1.27%) than the support at $385.00 (2.53%), 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.836 Sell Candidate Downgraded
Predicted Opening Price for Adcorp Holdings Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $406.00 ( 2.78%) | $395.00 |
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 | 439.00 | 11.14 % | |
| R2 | 426.39 | 7.95 % | ||
| R1 | 418.61 | 5.98 % | ||
| Current price: | 395.00 | |||
| Support | S1 | 393.39 | -0.407 % | |
| S2 | 385.61 | -2.38 % | ||
| S3 | 373.00 | -5.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 427.00 | 8.10 % | |
| R2 | 420.00 | 6.33 % | ||
| R1 | 400.00 | 1.27 % | ||
| Current price | 395.00 | |||
| Support | S1 | 385.00 | -2.53% | |
| S2 | 380.00 | -3.80% | ||
| S3 | 366.00 | -7.34% |
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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