Agree Realty Corporation Stock Forecast
Evaluation of Agree Realty Corporation stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Agree Realty Corporation stock price fell by -0.548% on the last day (Thursday, 25th Apr 2024) from $58.37 to $58.05. During the last trading day the stock fluctuated 1.29% from a day low at $57.67 to a day high of $58.41. The price has risen in 6 of the last 10 days and is up by 2.29% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -450 thousand shares and in total, 811 thousand shares were bought and sold for approximately $47.11 million.
The stock lies the upper part of a falling 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 $58.33 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.79% during the next 3 months and, with a 90% probability hold a price between $51.47 and $56.12 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
The Agree Realty Corporation 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 $56.92 and $56.60. A breakdown below any of these levels will issue sell signals. 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 -0.548%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -10.18% to $52.14 within 11 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Agree Realty Corporation stock
Agree Realty Corporation finds support from accumulated volume at $57.11 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 $0.745 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: $55.72 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ADC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Agree Realty Corporation to open at $58.04, and during the day (based on 14 day Average True Range), to move between $57.04 and $59.06, which gives a possible trading interval of +/-$1.01 (+/-1.73%) up or down from last closing price. If Agree Realty Corporation takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.15 (0.17%) than the support at $57.11 (1.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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. 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: 0.320 Hold/Accumulate Downgraded
Predicted Opening Price for Agree Realty Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $58.04 ( 0.0144%) | $58.05 |
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 | 58.79 | 1.27 % | |
| R2 | 58.50 | 0.779 % | ||
| R1 | 58.33 | 0.476 % | ||
| Current price: | 58.05 | |||
| Support | S1 | 57.76 | -0.505 % | |
| S2 | 57.58 | -0.81 % | ||
| S3 | 57.30 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.45 | 0.689 % | |
| R2 | 58.37 | 0.551 % | ||
| R1 | 58.15 | 0.172 % | ||
| Current price | 58.05 | |||
| Support | S1 | 57.11 | -1.62% | |
| S2 | 56.56 | -2.57% | ||
| S3 | 56.20 | -3.19% |
ADC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 14, 2024 | $0.250 | 0.431% |
| 2 | Mar 12, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.247 | 0.439% |
| 3 | Feb 08, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.247 | 0.447% |
| 4 | Jan 11, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.247 | 0.440% |
| 5 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.247 | 0.396% |
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