Archer-Daniels-Midland Stock Forecast
Archer-Daniels-Midland stock price ended at $62.60 on Friday, after gaining 1.43%.
(Updated on Apr 19, 2024)
The Archer-Daniels-Midland stock price gained 1.43% on the last trading day (Friday, 19th Apr 2024), rising from $61.72 to $62.60. It has now gained 3 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. During the last trading day the stock fluctuated 2.11% from a day low at $61.61 to a day high of $62.91. The price has fallen in 6 of the last 10 days and is down by -1.36% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 376 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $205.14 million.
The stock lies in the middle of a strong 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 23.33% during the next 3 months and, with a 90% probability hold a price between $73.77 and $80.78 at the end of this 3-month period.
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ADM Signals & Forecast
The Archer-Daniels-Midland 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 $61.30 and $60.11. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 09, 2024, and so far it has fallen -2.03%. 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).
Support, Risk & Stop-loss for Archer-Daniels-Midland stock
On the downside, the stock finds support just below today's level from accumulated volume at $52.63 and $52.31. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Archer-Daniels-Midland finds support just below today's level at $52.63. If this is broken, then the next support from accumulated volume will be at $52.31 and $51.69.
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 $1.30 between high and low, or 2.11%. For the last week the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: $59.82 (-4.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (ADM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Archer-Daniels-Midland Company to open at $62.37, and during the day (based on 14 day Average True Range), to move between $61.36 and $63.84, which gives a possible trading interval of +/-$1.24 (+/-1.98%) up or down from last closing price. If Archer-Daniels-Midland Company takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.81 (0.34%) than the support at $52.63 (15.93%), 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 Archer-Daniels-Midland Company stock A Buy?
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 Archer-Daniels-Midland stock to perform well in the short-term.
Current score: 4.850 Buy Candidate Unchanged
Predicted Opening Price for Archer-Daniels-Midland Company of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $62.37 ( 0.362%) | $62.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.67 | 1.71 % | |
| R2 | 63.18 | 0.92 % | ||
| R1 | 62.87 | 0.431 % | ||
| Current price: | 62.60 | |||
| Support | S1 | 61.88 | -1.16 % | |
| S2 | 61.57 | -1.65 % | ||
| S3 | 61.07 | -2.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.89 | 2.06 % | |
| R2 | 62.99 | 0.623 % | ||
| R1 | 62.81 | 0.335 % | ||
| Current price | 62.60 | |||
| Support | S1 | 52.63 | -15.93% | |
| S2 | 52.31 | -16.44% | ||
| S3 | 51.69 | -17.43% |
ADM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 08, 2024 | Feb 29, 2024 | $0.500 | 0.94% |
| 2 | Jan 25, 2024 | Feb 07, 2024 | Feb 29, 2024 | $0.500 | 0.94% |
| 3 | Nov 01, 2023 | Nov 14, 2023 | Dec 06, 2023 | $0.450 | 0.615% |
| 4 | Aug 02, 2023 | Aug 15, 2023 | Sep 06, 2023 | $0.450 | 0.581% |
| 5 | May 04, 2023 | May 16, 2023 | Jun 07, 2023 | $0.450 | 0.613% |
FAQ
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