Danone Stock Forecast
Danone stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Danone stock price gained 0.627% on the last trading day (Wednesday, 24th Apr 2024), rising from $12.76 to $12.84. During the last trading day the stock fluctuated 0.785% from a day low at $12.74 to a day high of $12.84. The price has risen in 7 of the last 10 days and is up by 3.8% 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, 143 thousand more shares were traded than the day before. In total, 279 thousand shares were bought and sold for approximately $3.59 million.
Given the current short-term trend, the stock is expected to fall -6.45% during the next 3 months and, with a 90% probability hold a price between $11.33 and $12.01 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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DANOY Signals & Forecast
The Danone 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 $12.63 and $12.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 4.99%. 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 Danone stock
Danone finds support from accumulated volume at $12.58 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 $0.1000 (0.785%) between high and low. For the last week, the stock has had daily average volatility of 0.738%.
Our recommended stop-loss: $12.26 (-4.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (DANOY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Danone to open at $12.81, and during the day (based on 14 day Average True Range), to move between $12.71 and $12.97, which gives a possible trading interval of +/-$0.133 (+/-1.04%) up or down from last closing price. If Danone takes out the full calculated possible swing range there will be an estimated 2.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.88 (0.31%) than the support at $12.58 (2.02%), 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 Danone stock A Buy?
Danone 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Danone of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $12.81 ( 0.260%) | $12.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DANOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.91 | 0.519 % | |
| R2 | 12.87 | 0.222 % | ||
| R1 | 12.84 | 0.0379 % | ||
| Current price: | 12.84 | |||
| Support | S1 | 12.77 | -0.557 % | |
| S2 | 12.74 | -0.741 % | ||
| S3 | 12.71 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.28 | 3.43 % | |
| R2 | 13.16 | 2.49 % | ||
| R1 | 12.88 | 0.312 % | ||
| Current price | 12.84 | |||
| Support | S1 | 12.58 | -2.02% | |
| S2 | 12.48 | -2.80% | ||
| S3 | 12.37 | -3.66% |
DANOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 29, 2024 | $0.455 | 3.54% |
| 2 | Aug 04, 2023 | May 05, 2023 | Jun 01, 2023 | $0.435 | 3.64% |
| 3 | May 06, 2022 | May 06, 2022 | May 06, 2022 | $0.419 | 3.62% |
| 4 | May 06, 2021 | May 06, 2021 | May 06, 2021 | $0.467 | 3.35% |
| 5 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | $0.473 | 3.53% |
FAQ
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