Archer Daniels Midland Company Stock Forecast
Red day on Wednesday for Archer Daniels Midland Company stock after losing 0.111%
(Updated on Apr 17, 2024)
The Archer Daniels Midland Company stock price fell by -0.111% on the last day (Wednesday, 17th Apr 2024) from £2,692.00 to £2,689.00. During the last trading day the stock fluctuated 1.87% from a day low at £2,670.00 to a day high of £2,720.00. The price has fallen in 6 of the last 10 days and is down by -0.19% for this period. 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 -311 thousand shares and in total, 406 thousand shares were bought and sold for approximately £1.09 billion.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £2,680.16 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.47% during the next 3 months and, with a 90% probability hold a price between £2,987.58 and £3,221.21 at the end of this 3-month period.
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ADM.L Signals & Forecast
There are mixed signals in the stock today. The Archer Daniels Midland Company 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 £2,709.00. On a fall, the stock will find some support from the short-term average at £2,679.86. 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. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -5.22%. 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.
Support, Risk & Stop-loss for Archer Daniels Midland Company stock
Archer Daniels Midland Company finds support from accumulated volume at £2,666.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £50.00 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADM.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Archer Daniels Midland Company to open at £2,693.00, and during the day (based on 14 day Average True Range), to move between £2,635.19 and £2,742.81, which gives a possible trading interval of +/-£53.81 (+/-2.00%) 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 4.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £2,694.00 (0.19%) than the support at £2,666.00 (0.86%), 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?
Archer Daniels Midland Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.483 Sell Candidate Unchanged
Predicted Opening Price for Archer Daniels Midland Company of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £2,693.00 ( 0.149%) | £2,689.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,743.00 | 2.01 % | |
| R2 | 2,723.90 | 1.30 % | ||
| R1 | 2,712.10 | 0.86 % | ||
| Current price: | 2,689.00 | |||
| Support | S1 | 2,673.90 | -0.562 % | |
| S2 | 2,662.10 | -1.00 % | ||
| S3 | 2,643.00 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,830.00 | 5.24 % | |
| R2 | 2,734.00 | 1.67 % | ||
| R1 | 2,694.00 | 0.186 % | ||
| Current price | 2,689.00 | |||
| Support | S1 | 2,666.00 | -0.86% | |
| S2 | 2,650.00 | -1.45% | ||
| S3 | 2,583.00 | -3.94% |
ADM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 07, 2024 | £52.00 | 1.93% |
| 2 | Mar 08, 2023 | May 04, 2023 | Jun 02, 2023 | £14.50 | 0.611% |
| 3 | Aug 10, 2022 | Sep 01, 2022 | Sep 30, 2022 | £60.80 | 3.18% |
| 4 | Mar 03, 2022 | May 05, 2022 | Jun 06, 2022 | £75.80 | 3.33% |
| 5 | Aug 11, 2021 | Sep 02, 2021 | Oct 01, 2021 | £73.10 | 2.33% |
FAQ
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