Alexander's Inc Stock Forecast
Alexander's Inc stock price up more than 7.86% on Monday
(Updated on May 06, 2024)
The Alexander's Inc stock price gained 7.86% on the last trading day (Monday, 6th May 2024), rising from $213.80 to $230.61. During the last trading day the stock fluctuated 7.81% from a day low at $220.01 to a day high of $237.18. The price has risen in 7 of the last 10 days and is up by 9.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately $5.53 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $227.19, a level that may pose a second chance to hit a runner. According to fan-theory $252.56 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ALX Signals & Forecast
Mostly positive signals in the chart today. The Alexander's Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $215.25 and $214.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 12.24%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 with a target of $220.74. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Alexander's Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $216.96 and $215.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Alexander's Inc finds support just below today's level at $216.96. If this is broken, then the next support from accumulated volume will be at $215.00 and $214.58.
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 $17.18 (7.81%) between high and low. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: $222.26 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ALX) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Alexander's Inc to open at $229.27, and during the day (based on 14 day Average True Range), to move between $224.17 and $237.05, which gives a possible trading interval of +/-$6.44 (+/-2.79%) up or down from last closing price. If Alexander's Inc takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $232.54 (0.84%) than the support at $216.96 (5.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Alexander's Inc stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.012 Buy Candidate Upgraded
Predicted Opening Price for Alexander's Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $229.27 ( 0.583%) | $230.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 246.45 | 6.87 % | |
| R2 | 239.88 | 4.02 % | ||
| R1 | 235.83 | 2.26 % | ||
| Current price: | 230.61 | |||
| Support | S1 | 222.70 | -3.43 % | |
| S2 | 218.65 | -5.19 % | ||
| S3 | 212.09 | -8.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 232.54 | 0.84 % | ||
| Current price | 230.61 | |||
| Support | S1 | 216.96 | -5.92% | |
| S2 | 215.00 | -6.77% | ||
| S3 | 214.58 | -6.95% |
ALX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 31, 2024 | $4.50 | 1.95% |
| 2 | Feb 07, 2024 | Feb 16, 2024 | Mar 01, 2024 | $4.50 | 2.04% |
| 3 | Oct 25, 2023 | Nov 03, 2023 | Nov 17, 2023 | $4.50 | 2.33% |
| 4 | Jul 26, 2023 | Aug 04, 2023 | Aug 18, 2023 | $4.50 | 2.46% |
| 5 | Apr 26, 2023 | May 05, 2023 | May 19, 2023 | $4.50 | 2.79% |
FAQ
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