Fresh Del Monte Produce Inc Stock Forecast
Weaker technical forecast for Fresh Del Monte Produce Inc as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Fresh Del Monte Produce Inc stock price gained 0.99% on the last trading day (Friday, 28th Jun 2024), rising from £1,410.00 to £1,424.00. During the last trading day the stock fluctuated 3.93% from a day low at £1,374.00 to a day high of £1,428.00. The price has risen in 4 of the last 10 days and is up by 4.25% 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, 173 thousand more shares were traded than the day before. In total, 173 thousand shares were bought and sold for approximately £247.05 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.08% during the next 3 months and, with a 90% probability hold a price between £1,567.52 and £1,747.99 at the end of this 3-month period.
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FDP.L Signals & Forecast
The Fresh Del Monte Produce Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £1,394.57 and £1,353.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 13.56%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fresh Del Monte Produce Inc stock
Fresh Del Monte Produce Inc finds support from accumulated volume at £1,390.00 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 £54.00 between high and low, or 3.93%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: £1,374.73 (-3.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (FDP.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Fresh Del Monte Produce Inc to open at £1,408.67, and during the day (based on 14 day Average True Range), to move between £1,388.44 and £1,459.56, which gives a possible trading interval of +/-£35.56 (+/-2.50%) up or down from last closing price. If Fresh Del Monte Produce Inc takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1,390.00, some £34.00 (2.39%) from the current price of £1,424.00, our system finds the risk reward attractive.
Is Fresh Del Monte Produce Inc stock A Buy?
Fresh Del Monte Produce Inc 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 Fresh Del Monte Produce Inc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1,408.67 ( 1.08%) | £1,424.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDP.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,462.67 | 2.72% |
| R2 | 1,442.04 | 1.27% |
| R1 | 1,429.29 | 0.372% |
| Price | 1,424.00 | |
| S1 | 1,388.04 | -2.53% |
| S2 | 1,375.29 | -3.42% |
| S3 | 1,354.67 | -4.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,424.00 | |
| S1 | 1,390.00 | -2.39% |
| S2 | 1,360.00 | -4.49% |
| S3 | 1,226.00 | -13.90% |
FDP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 05, 2019 | Nov 14, 2019 | Dec 05, 2019 | £8.50 | 0.328% |
| 2 | May 21, 2019 | Jun 20, 2019 | Jul 19, 2019 | £19.30 | 0.634% |
| 3 | Nov 06, 2018 | Nov 15, 2018 | Dec 06, 2018 | £7.70 | 0.367% |
| 4 | May 22, 2018 | Jun 21, 2018 | Jul 20, 2018 | £17.00 | 0.426% |
| 5 | Nov 07, 2017 | Nov 16, 2017 | Dec 06, 2017 | £7.00 | 0.189% |
FAQ
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