AGCO Corporation Stock Forecast
AGCO Corporation stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The AGCO Corporation stock price gained 0.422% on the last trading day (Thursday, 18th Apr 2024), rising from $116.24 to $116.73. During the last trading day the stock fluctuated 1.78% from a day low at $115.69 to a day high of $117.75. The price has fallen in 6 of the last 10 days and is down by -4.34% for this period. Volume fell on the last day by -48 thousand shares and in total, 544 thousand shares were bought and sold for approximately $63.49 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.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AGCO Corporation stock with a 90% probability to be traded between $109.12 and $127.29 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AGCO Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AGCO Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $119.33 and $117.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -6.89%. 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 AGCO Corporation stock
AGCO Corporation finds support from accumulated volume at $113.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.06 (1.78%) between high and low. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGCO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect AGCO Corporation to open at $116.72, and during the day (based on 14 day Average True Range), to move between $113.97 and $119.49, which gives a possible trading interval of +/-$2.76 (+/-2.36%) up or down from last closing price. If AGCO Corporation takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $117.91 (1.01%) than the support at $113.31 (2.93%), 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 AGCO Corporation stock A Buy?
AGCO Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.157 Sell Candidate Downgraded
Predicted Opening Price for AGCO Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $116.72 ( 0.0071%) | $116.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 118.78 | 1.75 % | |
| R2 | 117.99 | 1.08 % | ||
| R1 | 117.51 | 0.665 % | ||
| Current price: | 116.73 | |||
| Support | S1 | 115.94 | -0.680 % | |
| S2 | 115.45 | -1.10 % | ||
| S3 | 114.67 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.19 | 4.68 % | |
| R2 | 120.93 | 3.60 % | ||
| R1 | 117.91 | 1.01 % | ||
| Current price | 116.73 | |||
| Support | S1 | 113.31 | -2.93% | |
| S2 | 110.58 | -5.27% | ||
| S3 | 107.57 | -7.85% |
AGCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 18, 2024 | Feb 14, 2024 | Mar 15, 2024 | $0.290 | 0.249% |
| 2 | Oct 26, 2023 | Nov 14, 2023 | Dec 15, 2023 | $0.290 | 0.243% |
| 3 | Jul 12, 2023 | Aug 14, 2023 | Sep 15, 2023 | $0.290 | 0.236% |
| 4 | Apr 27, 2023 | May 18, 2023 | Jun 20, 2023 | $5.00 | 3.78% |
| 5 | Apr 27, 2023 | May 12, 2023 | Jun 20, 2023 | $0.290 | 0.219% |
FAQ
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