Alta Equipment Group Inc. Stock Forecast
Alta Equipment Group Inc. stock price up 2.37% on Thursday
(Updated on May 16, 2024)
The Alta Equipment Group Inc. stock price gained 2.37% on the last trading day (Thursday, 16th May 2024), rising from $8.43 to $8.63. During the last trading day the stock fluctuated 5.66% from a day low at $8.31 to a day high of $8.78. The price has fallen in 6 of the last 10 days and is down by -25.28% for this period. Volume fell on the last day by -100 thousand shares and in total, 335 thousand shares were bought and sold for approximately $2.89 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.41 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.18% during the next 3 months and, with a 90% probability hold a price between $7.64 and $11.40 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.
ALTG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 2.37%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alta Equipment Group Inc. 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 $9.25 and $11.52. 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).
Support, Risk & Stop-loss for Alta Equipment Group Inc. stock
Alta Equipment Group Inc. finds support from accumulated volume at $8.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.470 between high and low, or 5.66%. For the last week, the stock has had daily average volatility of 7.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALTG) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Alta Equipment Group Inc. to open at $8.57, and during the day (based on 14 day Average True Range), to move between $8.05 and $9.21, which gives a possible trading interval of +/-$0.581 (+/-6.73%) up or down from last closing price. If Alta Equipment Group Inc. takes out the full calculated possible swing range there will be an estimated 13.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.56 (0.81%) than the resistance at $8.85 (2.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alta Equipment Group Inc. stock A Buy?
Alta Equipment Group Inc. holds several negative signals and is within a very 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.
Current score: -5.517 Strong Sell Candidate Unchanged
Predicted Opening Price for Alta Equipment Group Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $8.57 ( 0.657%) | $8.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALTG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.04 | 4.79 % | |
| R2 | 8.86 | 2.71 % | ||
| R1 | 8.75 | 1.42 % | ||
| Current price: | 8.63 | |||
| Support | S1 | 8.39 | -2.74 % | |
| S2 | 8.28 | -4.02 % | ||
| S3 | 8.10 | -6.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.51 | 21.78 % | |
| R2 | 9.81 | 13.67 % | ||
| R1 | 8.85 | 2.55 % | ||
| Current price | 8.63 | |||
| Support | S1 | 8.56 | -0.81% | |
| S2 | 8.43 | -2.32% | ||
| S3 | 0 | . |
ALTG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 14, 2024 | May 31, 2024 | $0.0570 | 0.660% |
| 2 | Feb 02, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.0570 | 0.497% |
| 3 | Jan 11, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.625 | 5.84% |
| 4 | Nov 03, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.0600 | 0.629% |
| 5 | Aug 02, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.0570 | 0.401% |
FAQ
Click here for our free guide on how to buy Alta Equipment Group Inc. Stock.
