Danone Stock Forecast
Danone stock price up 0.97% on Friday
(Updated on May 03, 2024)
The Danone stock price gained 0.97% on the last trading day (Friday, 3rd May 2024), rising from $12.34 to $12.46. During the last trading day the stock fluctuated 1.21% from a day low at $12.37 to a day high of $12.52. The price has been going up and down for this period, and there has been a -1.74% loss for the last 2 weeks. Volume fell on the last day by -173 thousand shares and in total, 141 thousand shares were bought and sold for approximately $1.75 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.43% during the next 3 months and, with a 90% probability hold a price between $11.25 and $11.92 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
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 2.09%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $12.47 and $12.65. A break-up above any of these levels will issue buy signals.
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 6.00% to $13.21 within 13 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Danone stock
Danone finds support from accumulated volume at $12.37 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.150 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.58%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Danone to open at $12.45, and during the day (based on 14 day Average True Range), to move between $12.28 and $12.64, which gives a possible trading interval of +/-$0.178 (+/-1.43%) up or down from last closing price. If Danone takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.48 (0.16%) than the support at $12.37 (0.72%), 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 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.
Current score: -1.158 Sell Candidate Unchanged
Predicted Opening Price for Danone of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $12.45 ( 0.0803%) | $12.46 |
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 | 12.60 | 1.12 % | |
| R2 | 12.54 | 0.664 % | ||
| R1 | 12.51 | 0.380 % | ||
| Current price: | 12.46 | |||
| Support | S1 | 12.39 | -0.540 % | |
| S2 | 12.36 | -0.82 % | ||
| S3 | 12.30 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.16 | 5.62 % | |
| R2 | 12.58 | 0.96 % | ||
| R1 | 12.48 | 0.161 % | ||
| Current price | 12.46 | |||
| Support | S1 | 12.37 | -0.722% | |
| S2 | 12.34 | -0.96% | ||
| S3 | 12.23 | -1.85% |
DANOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 29, 2024 | $0.455 | 3.65% |
| 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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