ADC - Agree Realty Corporation Tue 24'th Jan 2017
Strong Buy Candidate
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-20
Agree Realty Corporation Stock Analysis
Agree Realty Corporation gained 0.51% in the last trading day, rising from USD 46.69 to USD 46.93. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days days and is up by 2.18% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 45 427 more shares were traded than the day before. In total, 149 350 shares bought and sold for approximately USD 7.01 million.
Agree Realty Corporation has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. USD 46.19 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach USD 49.89 sometime during the next 3 months.
Only positive signals in the chart today. 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 46.14 and USD 45.49. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 19, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
Agree Realty Corporation finds support from accumulated volume at USD 44.62, USD 42.54, and USD 42.44. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 47.14, USD 47.40 and USD 49.25.
The stock is about to test the resistance from accumulated volume at USD 47.14 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 0.49 (1.05%) between high and low. For the last week, the stock has had a daily average volatility of 2.09%.
Our recommended stoploss: USD 44.58 (-5.01%) ( Criterias: risk and break of trend)
Agree Realty Corporation holds several positive signals and has broken the narrow and horisontal trend up. As is the stock is in a very good technical shape, we therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.