Agree Realty Corporation Stock Forecast
Agree Realty Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Agree Realty Corporation stock price gained 1.21% on the last trading day (Wednesday, 27th Mar 2024), rising from $56.00 to $56.68. During the last trading day the stock fluctuated 1.30% from a day low at $56.15 to a day high of $56.88. The price has fallen in 6 of the last 10 days but is still up by 0.76% over the past 2 weeks. Volume fell on the last day by -62 thousand shares and in total, 738 thousand shares were bought and sold for approximately $41.81 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.
Given the current short-term trend, the stock is expected to fall -12.54% during the next 3 months and, with a 90% probability hold a price between $45.84 and $49.57 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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ADC Signals & Forecast
There are mixed signals in the stock today. The Agree Realty Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $56.73. On a fall, the stock will find some support from the short-term average at $56.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 3.15%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Agree Realty Corporation stock
Agree Realty Corporation finds support from accumulated volume at $56.56 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 $0.730 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 1.06%.
Our recommended stop-loss: $53.56 (-5.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (ADC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Agree Realty Corporation to open at $56.57, and during the day (based on 14 day Average True Range), to move between $55.67 and $57.69, which gives a possible trading interval of +/-$1.01 (+/-1.78%) up or down from last closing price. If Agree Realty Corporation takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $56.56 (0.21%) than the resistance at $57.11 (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Agree Realty Corporation stock A Buy?
Agree Realty Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.404 Hold/Accumulate Upgraded
Predicted Opening Price for Agree Realty Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$56.57 ( 0.194%) | $56.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 57.30 | 1.09 % | |
R2 | 57.02 | 0.602 % | ||
R1 | 56.85 | 0.298 % | ||
Current price: | 56.68 | |||
Support | S1 | 56.29 | -0.686 % | |
S2 | 56.12 | -0.99 % | ||
S3 | 55.84 | -1.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.16 | 7.90 % | |
R2 | 58.15 | 2.59 % | ||
R1 | 57.11 | 0.759 % | ||
Current price | 56.68 | |||
Support | S1 | 56.56 | -0.212% | |
S2 | 56.20 | -0.85% | ||
S3 | 54.95 | -3.05% |
ADC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 12, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.247 | 0.436% |
2 | Feb 08, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.247 | 0.447% |
3 | Jan 11, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.247 | 0.440% |
4 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.247 | 0.396% |
5 | Nov 09, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.247 | 0.398% |
FAQ
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