ATCO Ltd. Stock Forecast
Stronger technical forecast for ATCO Ltd. stock price after Thursday trading.
(Updated on May 16, 2024)
The ATCO Ltd. stock price gained 0.100% on the last trading day (Thursday, 16th May 2024), rising from $29.93 to $29.96. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.603% from a day low at $29.85 to a day high of $30.03. The price has risen in 10 of the last 10 days and is up by 8.55% 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, 3 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $136.68 thousand.
Given the current horizontal trend, you can expect ATCO Ltd. stock with a 90% probability to be traded between $26.43 and $30.42 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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ACLLF Signals & Forecast
Mostly positive signals in the chart today. The ATCO 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 $29.52 and $27.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 15.81%. 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). ATCO Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for ATCO Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $27.32 and $27.06. 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, ATCO Ltd. finds support just below today's level at $27.32. If this is broken, then the next support from accumulated volume will be at $27.06 and $26.55.
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 $0.180 between high and low, or 0.603%. For the last week, the stock has had daily average volatility of 0.351%.
The ATCO Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the ATCO Ltd. has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $28.49 (-4.90%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (ACLLF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect ATCO Ltd. to open at $29.95, and during the day (based on 14 day Average True Range), to move between $29.65 and $30.27, which gives a possible trading interval of +/-$0.313 (+/-1.04%) up or down from last closing price. If ATCO Ltd. takes out the full calculated possible swing range there will be an estimated 2.09% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.32, some $2.64 (8.81%) from the current price of $29.96, our system finds the risk reward attractive.
Is ATCO Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ATCO Ltd. stock to perform well in 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: 2.887 Buy Candidate Upgraded
Predicted Opening Price for ATCO Ltd. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $29.95 ( 0.0445%) | $29.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACLLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.13 | 0.556 % | |
| R2 | 30.06 | 0.327 % | ||
| R1 | 30.02 | 0.185 % | ||
| Current price: | 29.96 | |||
| Support | S1 | 29.88 | -0.274 % | |
| S2 | 29.84 | -0.416 % | ||
| S3 | 29.77 | -0.645 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 29.96 | |||
| Support | S1 | 27.32 | -8.81% | |
| S2 | 27.06 | -9.70% | ||
| S3 | 26.55 | -11.38% |
ACLLF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | $0 | 0% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Mar 31, 2024 | $0.365 | 1.31% |
| 3 | May 27, 2023 | May 31, 2023 | Jun 30, 2023 | $0.350 | 1.18% |
| 4 | Feb 28, 2023 | Mar 01, 2023 | Mar 31, 2023 | $0.349 | 1.09% |
| 5 | Nov 26, 2022 | Nov 30, 2022 | Dec 31, 2022 | $0.340 | 1.08% |
FAQ
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