Adecoagro SA Stock Forecast
Adecoagro SA stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Adecoagro SA stock price fell by -2.60% on the last day (Tuesday, 30th Apr 2024) from $11.14 to $10.85. During the last trading day the stock fluctuated 3.04% from a day low at $10.85 to a day high of $11.18. The price has risen in 5 of the last 10 days and is up by 1.88% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -642 thousand shares and in total, 626 thousand shares were bought and sold for approximately $6.79 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.76 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 13.65% during the next 3 months and, with a 90% probability hold a price between $12.23 and $13.91 at the end of this 3-month period.
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AGRO Signals & Forecast
There are few to no technical positive signals at the moment. The Adecoagro SA 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 $11.05 and $10.88. 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 09, 2024, and so far it has fallen -8.67%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Adecoagro SA stock
Adecoagro SA finds support from accumulated volume at $10.65 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 $0.330 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGRO) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Adecoagro SA to open at $10.96, and during the day (based on 14 day Average True Range), to move between $10.59 and $11.11, which gives a possible trading interval of +/-$0.264 (+/-2.44%) up or down from last closing price. If Adecoagro SA takes out the full calculated possible swing range there will be an estimated 4.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.65 (1.84%) than the resistance at $11.14 (2.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Adecoagro SA stock A Buy?
The Adecoagro SA stock holds several negative signals and despite the positive trend, we believe Adecoagro SA 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: -4.625 Sell Candidate Downgraded
Predicted Opening Price for Adecoagro SA of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $10.96 ( 1.01%) | $10.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGRO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.29 | 4.06 % | |
| R2 | 11.16 | 2.89 % | ||
| R1 | 11.09 | 2.18 % | ||
| Current price: | 10.85 | |||
| Support | S1 | 10.83 | -0.148 % | |
| S2 | 10.76 | -0.87 % | ||
| S3 | 10.63 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.88 | 9.49 % | |
| R2 | 11.68 | 7.65 % | ||
| R1 | 11.14 | 2.67 % | ||
| Current price | 10.85 | |||
| Support | S1 | 10.65 | -1.84% | |
| S2 | 10.03 | -7.56% | ||
| S3 | 9.78 | -9.86% |
AGRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 27, 2023 | Nov 08, 2023 | Nov 24, 2023 | $0.165 | 1.45% |
| 2 | Apr 27, 2023 | May 08, 2023 | May 24, 2023 | $0.163 | 1.78% |
| 3 | Oct 21, 2022 | Nov 01, 2022 | Nov 17, 2022 | $0.160 | 2.06% |
| 4 | Apr 22, 2022 | Apr 29, 2022 | May 17, 2022 | $0.157 | 1.43% |
FAQ
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