Danone Stock Forecast
Danone stock downgraded to Sell Candidate
(Updated on Apr 19, 2024)
The Danone stock price gained 0.795% on the last trading day (Friday, 19th Apr 2024), rising from $12.58 to $12.68. 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 0.713% from a day low at $12.62 to a day high of $12.71. The price has risen in 5 of the last 10 days and is up by 0.79% over the past 2 weeks. Volume fell on the last day by -92 thousand shares and in total, 161 thousand shares were bought and sold for approximately $2.04 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 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 $12.77 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 -6.95% during the next 3 months and, with a 90% probability hold a price between $11.31 and $11.88 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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DANOY Signals & Forecast
There are mixed signals in the stock today. The Danone 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 $12.75. On a fall, the stock will find some support from the short-term average at $12.41. 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 Friday, April 12, 2024, and so far it has risen 3.68%. 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 Danone stock
Danone finds support from accumulated volume at $12.58 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 $0.0900 (0.713%) between high and low. For the last week, the stock has had daily average volatility of 0.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DANOY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Danone to open at $12.67, and during the day (based on 14 day Average True Range), to move between $12.54 and $12.82, which gives a possible trading interval of +/-$0.140 (+/-1.11%) up or down from last closing price. If Danone takes out the full calculated possible swing range there will be an estimated 2.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.58 (0.79%) than the resistance at $12.88 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Danone stock A Buy?
Danone 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. 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: -2.088 Sell Candidate Downgraded
Predicted Opening Price for Danone of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $12.67 ( 0.0789%) | $12.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DANOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.76 | 0.631 % | |
| R2 | 12.73 | 0.360 % | ||
| R1 | 12.70 | 0.192 % | ||
| Current price: | 12.68 | |||
| Support | S1 | 12.64 | -0.350 % | |
| S2 | 12.61 | -0.518 % | ||
| S3 | 12.58 | -0.789 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.28 | 4.73 % | |
| R2 | 13.16 | 3.79 % | ||
| R1 | 12.88 | 1.58 % | ||
| Current price | 12.68 | |||
| Support | S1 | 12.58 | -0.789% | |
| S2 | 12.48 | -1.58% | ||
| S3 | 12.37 | -2.44% |
DANOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 29, 2024 | $0.455 | 3.59% |
| 2 | Aug 04, 2023 | May 05, 2023 | Jun 01, 2023 | $0.435 | 3.64% |
| 3 | May 06, 2022 | May 06, 2022 | May 06, 2022 | $0.419 | 3.62% |
| 4 | May 06, 2021 | May 06, 2021 | May 06, 2021 | $0.467 | 3.35% |
| 5 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | $0.473 | 3.53% |
FAQ
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