Alcon Inc. Stock Forecast
Red day on Wednesday for Alcon Inc.
(Updated on May 08, 2024)
The Alcon Inc. stock price fell by -0.766% on the last day (Wednesday, 8th May 2024) from $80.97 to $80.35. During the last trading day the stock fluctuated 1.44% from a day low at $79.63 to a day high of $80.78. The price has fallen in 6 of the last 10 days but is still up by 0.98% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -276 thousand shares and in total, 666 thousand shares were bought and sold for approximately $53.50 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Alcon Inc. stock with a 90% probability to be traded between $76.01 and $85.48 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.57%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alcon Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $81.25. On a fall, the stock will find some support from the short-term average at $79.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Alcon Inc. stock
Alcon Inc. finds support from accumulated volume at $79.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.15 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: $76.49 (-4.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ALC) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Alcon Inc. to open at $80.25, and during the day (based on 14 day Average True Range), to move between $79.09 and $81.61, which gives a possible trading interval of +/-$1.26 (+/-1.56%) up or down from last closing price. If Alcon Inc. takes out the full calculated possible swing range there will be an estimated 3.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $79.57 (0.97%) than the resistance at $85.69 (6.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Alcon Inc. will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.720. We will update the financials statements for Alcon Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.88% in the first trading day after earnings release.
Is Alcon Inc. stock A Buy?
Alcon Inc. 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.
Current score: -0.934 Hold/Accumulate Unchanged
Predicted Opening Price for Alcon Inc. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $80.25 ( 0.120%) | $80.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.40 | 1.31 % | |
| R2 | 80.96 | 0.764 % | ||
| R1 | 80.69 | 0.426 % | ||
| Current price: | 80.35 | |||
| Support | S1 | 79.81 | -0.667 % | |
| S2 | 79.54 | -1.00 % | ||
| S3 | 79.10 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 87.33 | 8.69 % | |
| R2 | 85.92 | 6.93 % | ||
| R1 | 85.69 | 6.65 % | ||
| Current price | 80.35 | |||
| Support | S1 | 79.57 | -0.97% | |
| S2 | 79.00 | -1.68% | ||
| S3 | 78.77 | -1.97% |
ALC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 16, 2024 | $0.265 | 0.330% |
| 2 | May 10, 2024 | May 10, 2024 | May 10, 2024 | $0 | 0% |
| 3 | Mar 02, 2023 | May 10, 2023 | May 12, 2023 | $0.236 | 0.297% |
| 4 | Apr 23, 2022 | May 03, 2022 | May 03, 2022 | $0.205 | 0.289% |
| 5 | May 03, 2021 | May 04, 2021 | May 06, 2021 | $0.110 | 0.158% |
FAQ
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