ADC - Agree Realty Corporation

Industry: Property Management Sector: Financial

Buy Candidate
Fri 21'st Apr 2017

VOLUME
Buy
TREND
Buy
MV LONG
Buy
MV SHORT
Buy
PIVOT
Sell
MACD
Sell
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Agree Realty Corporation Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Buy candidate since 2017-04-06 Gain 5.34%

Agree Realty Corporation fell by -0.04% in the last day, from USD 51.10 to USD 51.08 The price has risen in 9 of the last 10 days and is up by 5.34% over the past 2 weeks. Volume has increased in the last day by 3 411 shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 143 103 shares bought and sold for approximately USD 7.31 million.

Trend

Agree Realty Corporation lies in the middle of a wide and weak 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 5.5% during the next 3 months and, with 90% probability hold a price between USD 50.14 and USD 55.30 at the end of this period.

Signals

There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday April 20, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Agree Realty Corporation holds buy signals from both short- and long-term moving averages. In addition, 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 USD 50.62 and USD 48.40. A break down below any of these levels will issue sell signals.

Relative Strength Index (RSI)

RSI14 is 88 and the stock is extremely overbought on RSI14, so further reactions should be expected. Some stocks may have a long and hard correction after reaching so high an RSI, but not in all cases. However, the short-term risk has increased drastically and larger movements in the next couple of days can be expected.

Support & Resistance

Agree Realty Corporation finds support from accumulated volume at USD 48.68, USD 48.10, and USD 47.31. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 51.10.

The stock is about to test the resistance at USD 51.10. If this level is broken the stock may move faster and we often see a peak at the end of such a break, posing a good sales opportunity as in 90% of the cases you will get a reaction back to the level broken before new gains. A break should be followed by increasing volume else the break may be false and despite a break of the actual resistance level the stock falls back fairly soon.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 0.47 (0.93%) between high and low. For the last week, the stock has had a daily average volatility of 1.23%.

The stock is extremely overbought on RSI14 (88). This increases the short-term risk substantially.

Our recommended stoploss: USD 49.26 (-3.55%) (This stock has low daily movements and this gives low risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)

Evaluation

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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