Alterra Ltd Stock Forecast

Alterra Ltd stock upgraded to Buy Candidate.
(Updated on Jun 18, 2024)

1AG.AX Signals & Forecast

The Alterra Ltd 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 A$0.0050 and A$0.0047. A breakdown below any of these levels will issue sell signals. 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 Monday, June 17, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 with a target of A$0.0047. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Alterra Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at A$0.0050. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at A$ may give a huge drop in the stock price.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved A$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: A$0.0058 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (1AG.AX) For The Upcoming Trading Day Of Wednesday 19th

For the upcoming trading day on Wednesday, 19th we expect Alterra Ltd to open at A$0.0060, and during the day (based on 14 day Average True Range), to move between A$0.0055 and A$0.0065, which gives a possible trading interval of +/-A$0.0005 (+/-7.57%) up or down from last closing price. If Alterra Ltd takes out the full calculated possible swing range there will be an estimated 15.14% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ A$0.0050, some A$0.0010 (16.67%) from the current price of A$0.0060, our system finds the risk reward attractive.

Is Alterra Ltd 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 Alterra Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.456 Buy Candidate Upgraded

Predicted Opening Price for Alterra Ltd of Wednesday, June 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.