Fresh Del Monte Produce Inc Stock Forecast
Fresh Del Monte Produce Inc stock upgraded to Strong Buy Candidate.
(Updated on May 02, 2024)
The Fresh Del Monte Produce Inc stock price gained 0.424% on the last trading day (Thursday, 2nd May 2024), rising from $25.92 to $26.03. During the last trading day the stock fluctuated 1.43% from a day low at $25.90 to a day high of $26.27. The price has risen in 7 of the last 10 days and is up by 2.64% 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, 23 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately $3.55 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $26.26 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.86% during the next 3 months and, with a 90% probability hold a price between $27.46 and $28.85 at the end of this 3-month period.
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FDP 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 $25.80 and $25.40. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Fresh Del Monte Produce Inc stock
Fresh Del Monte Produce Inc finds support from accumulated volume at $24.89 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 $0.370 between high and low, or 1.43%. For the last week the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $25.11 (-3.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (FDP) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Fresh Del Monte Produce Inc to open at $26.07, and during the day (based on 14 day Average True Range), to move between $25.60 and $26.46, which gives a possible trading interval of +/-$0.430 (+/-1.65%) 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 3.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $24.89, some $1.14 (4.38%) from the current price of $26.03, our system finds the risk reward attractive.
Earnings coming up
Fresh Del Monte Produce Inc will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.600. We will update the financials statements for Fresh Del Monte Produce Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.89% in the first trading day after earnings release.
Is Fresh Del Monte Produce Inc stock A Buy?
Fresh Del Monte Produce Inc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.465 Strong Buy Candidate Upgraded
Predicted Opening Price for Fresh Del Monte Produce Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $26.07 ( 0.141%) | $26.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.44 | 1.56 % | |
| R2 | 26.30 | 1.02 % | ||
| R1 | 26.21 | 0.684 % | ||
| Current price: | 26.03 | |||
| Support | S1 | 25.93 | -0.402 % | |
| S2 | 25.84 | -0.738 % | ||
| S3 | 25.70 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 26.03 | |||
| Support | S1 | 24.89 | -4.38% | |
| S2 | 23.92 | -8.11% | ||
| S3 | 23.18 | -10.95% |
FDP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 06, 2024 | Mar 29, 2024 | $0.250 | 0.96% |
| 2 | Oct 31, 2023 | Nov 14, 2023 | Dec 08, 2023 | $0.200 | 0.84% |
| 3 | Aug 01, 2023 | Aug 15, 2023 | Sep 08, 2023 | $0.200 | 0.793% |
| 4 | May 02, 2023 | May 16, 2023 | Jun 09, 2023 | $0.200 | 0.744% |
| 5 | Feb 21, 2023 | Mar 07, 2023 | Mar 31, 2023 | $0.150 | 0.498% |
FAQ
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