Alico Stock Forecast
Stronger technical forecast for Alico stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The Alico stock price gained 1.51% on the last trading day (Tuesday, 23rd Apr 2024), rising from $27.86 to $28.28. During the last trading day the stock fluctuated 1.21% from a day low at $28.16 to a day high of $28.50. The price has fallen in 6 of the last 10 days and is down by -2.98% for this period. Volume fell on the last day by -2 thousand shares and in total, 9 thousand shares were bought and sold for approximately $259.87 thousand. 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 in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.78% during the next 3 months and, with a 90% probability hold a price between $25.17 and $28.29 at the end of this 3-month period.
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ALCO Signals & Forecast
The Alico stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $27.37 and $28.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.12%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 6.80% to $30.20 within 26 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Alico stock
Alico finds support from accumulated volume at $28.26 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.340 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: $27.24 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ALCO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Alico to open at $28.31, and during the day (based on 14 day Average True Range), to move between $27.57 and $28.99, which gives a possible trading interval of +/-$0.715 (+/-2.53%) up or down from last closing price. If Alico takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.26 (0.07%) than the resistance at $28.32 (0.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alico stock A Buy?
Alico holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.076 Hold/Accumulate Upgraded
Predicted Opening Price for Alico of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $28.31 ( 0.118%) | $28.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.65 | 1.32 % | |
| R2 | 28.52 | 0.86 % | ||
| R1 | 28.44 | 0.577 % | ||
| Current price: | 28.28 | |||
| Support | S1 | 28.18 | -0.341 % | |
| S2 | 28.10 | -0.625 % | ||
| S3 | 27.97 | -1.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.48 | 7.78 % | |
| R2 | 28.63 | 1.24 % | ||
| R1 | 28.32 | 0.141 % | ||
| Current price | 28.28 | |||
| Support | S1 | 28.26 | -0.0707% | |
| S2 | 27.51 | -2.72% | ||
| S3 | 27.36 | -3.25% |
ALCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 27, 2024 | Apr 11, 2024 | $0.0500 | 0.176% |
| 2 | Dec 08, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.0500 | 0.177% |
| 3 | Sep 15, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.0500 | 0.205% |
| 4 | Jun 15, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.0500 | 0.195% |
| 5 | Mar 10, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.0500 | 0.207% |
FAQ
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