Danone Stock Forecast
Weaker technical forecast for Danone as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)
The Danone stock price fell by -3.53% on the last day (Thursday, 20th Jun 2024) from $12.73 to $12.28. During the last trading day the stock fluctuated 0.408% from a day low at $12.26 to a day high of $12.31. The price has fallen in 5 of the last 10 days and is down by -5.25% for this period. 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 -1 thousand shares and in total, 11 thousand shares were bought and sold for approximately $140.78 thousand.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $12.31 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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DANOY Signals & Forecast
There are few to no technical positive signals at the moment. The Danone 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 $12.70 and $12.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -6.19%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should go up by 7.55% to $13.21 within 13 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Danone stock
Danone finds support from accumulated volume at $12.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0500 between high and low, or 0.408%. For the last week the stock has had daily average volatility of 0.414%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DANOY) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Danone to open at $12.28, and during the day (based on 14 day Average True Range), to move between $12.11 and $12.45, which gives a possible trading interval of +/-$0.173 (+/-1.41%) up or down from last closing price. If Danone takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.24 (0.33%) than the resistance at $12.37 (0.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Danone stock A Buy?
Danone holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.073 Sell Candidate Downgraded
Predicted Opening Price for Danone of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $12.28 ( 0.0271%) | $12.28 |
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 | |
|---|---|---|
| R3 | 12.33 | 0.434% |
| R2 | 12.31 | 0.279% |
| R1 | 12.30 | 0.183% |
| Price | 12.28 | |
| S1 | 12.26 | -0.128% |
| S2 | 12.25 | -0.224% |
| S3 | 12.23 | -0.380% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.58 | 2.44% |
| R2 | 12.48 | 1.63% |
| R1 | 12.37 | 0.733% |
| Price | 12.28 | |
| S1 | 12.24 | -0.326% |
| S2 | 12.23 | -0.407% |
| S3 | 12.20 | -0.615% |
DANOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 29, 2024 | $0.455 | 3.58% |
| 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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