Ally Financial Inc Stock Forecast
Stronger technical forecast for Ally Financial Inc stock price after Thursday trading.
(Updated on May 02, 2024)
The Ally Financial Inc stock price gained 0.622% on the last trading day (Thursday, 2nd May 2024), rising from $38.56 to $38.80. During the last trading day the stock fluctuated 2.05% from a day low at $38.44 to a day high of $39.22. The price has risen in 6 of the last 10 days and is up by 0.23% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately $61.77 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 in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.74% during the next 3 months and, with a 90% probability hold a price between $39.83 and $45.90 at the end of this 3-month period.
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ALLY Signals & Forecast
The Ally Financial Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $39.01. On a fall, the stock will find some support from the long-term average at approximately $38.70. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.41%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ally Financial Inc stock
Ally Financial Inc finds support from accumulated volume at $38.71 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 $0.787 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $37.27 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (ALLY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Ally Financial Inc to open at $38.82, and during the day (based on 14 day Average True Range), to move between $37.74 and $39.86, which gives a possible trading interval of +/-$1.06 (+/-2.72%) up or down from last closing price. If Ally Financial Inc takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.71 (0.23%) than the resistance at $39.05 (0.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ally Financial Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ally Financial Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.112 Buy Candidate Upgraded
Predicted Opening Price for Ally Financial Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $38.82 ( 0.0490%) | $38.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.61 | 2.08 % | |
| R2 | 39.31 | 1.30 % | ||
| R1 | 39.12 | 0.82 % | ||
| Current price: | 38.80 | |||
| Support | S1 | 38.52 | -0.726 % | |
| S2 | 38.33 | -1.20 % | ||
| S3 | 38.03 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.60 | 4.64 % | |
| R2 | 39.71 | 2.35 % | ||
| R1 | 39.05 | 0.644 % | ||
| Current price | 38.80 | |||
| Support | S1 | 38.71 | -0.232% | |
| S2 | 36.69 | -5.44% | ||
| S3 | 36.04 | -7.11% |
ALLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 15, 2024 | $0.300 | 0.773% |
| 2 | Jan 31, 2024 | Jan 31, 2024 | Jan 31, 2024 | $0 | 0% |
| 3 | Oct 31, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.300 | 1.08% |
| 4 | Jul 17, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.300 | 1.10% |
| 5 | Apr 17, 2023 | Apr 28, 2023 | May 15, 2023 | $0.300 | 1.17% |
FAQ
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