Oil-Dri Corporation Of America Stock Forecast
Oil-Dri Corporation Of America stock downgraded to Sell Candidate
(Updated on Apr 24, 2024)
The Oil-Dri Corporation Of America stock price fell by -1.64% on the last day (Wednesday, 24th Apr 2024) from $70.59 to $69.43. During the last trading day the stock fluctuated 1.48% from a day low at $69.00 to a day high of $70.02. The price has been going up and down for this period, and there has been a -1.15% loss for the last 2 weeks. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 thousand shares were bought and sold for approximately $1.49 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $68.01 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 7.60% during the next 3 months and, with a 90% probability hold a price between $73.17 and $83.73 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ODC Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.68%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oil-Dri Corporation Of America stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $69.55 and $71.28. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Oil-Dri Corporation Of America gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Oil-Dri Corporation Of America stock
Oil-Dri Corporation Of America finds support from accumulated volume at $68.28 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 $1.02 between high and low, or 1.48%. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ODC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Oil-Dri Corporation Of America to open at $69.48, and during the day (based on 14 day Average True Range), to move between $67.54 and $71.32, which gives a possible trading interval of +/-$1.89 (+/-2.72%) up or down from last closing price. If Oil-Dri Corporation Of America takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $68.28 (1.66%) than the resistance at $71.09 (2.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oil-Dri Corporation Of America stock A Buy?
The Oil-Dri Corporation Of America stock holds several negative signals and despite the positive trend, we believe Oil-Dri Corporation Of America will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.792 Sell Candidate Downgraded
Predicted Opening Price for Oil-Dri Corporation Of America of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $69.48 ( 0.0768%) | $69.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ODC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.50 | 1.55 % | |
| R2 | 70.11 | 0.98 % | ||
| R1 | 69.87 | 0.638 % | ||
| Current price: | 69.43 | |||
| Support | S1 | 69.09 | -0.484 % | |
| S2 | 68.85 | -0.83 % | ||
| S3 | 68.46 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.05 | 9.53 % | |
| R2 | 71.86 | 3.50 % | ||
| R1 | 71.09 | 2.39 % | ||
| Current price | 69.43 | |||
| Support | S1 | 68.28 | -1.66% | |
| S2 | 65.47 | -5.70% | ||
| S3 | 64.96 | -6.44% |
ODC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 24, 2024 | $0.290 | 0.420% |
| 2 | Dec 14, 2023 | Feb 22, 2024 | Mar 08, 2024 | $0.290 | 0.408% |
| 3 | Oct 04, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.290 | 0.502% |
| 4 | Jun 08, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.290 | 0.429% |
| 5 | Mar 22, 2023 | May 11, 2023 | May 26, 2023 | $0.280 | 0.732% |
FAQ
Click here for our free guide on how to buy Oil-Dri Corporation Of America Stock.
