Altenergy Acquisition Corp. Stock Forecast
Altenergy Acquisition Corp. stock upgraded to Hold/Accumulate.
(Updated on Jun 24, 2024)
No changes to the price of Altenergy Acquisition Corp. stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $11.34 to a day high of $11.34. The price has been going up and down for this period, and there has been a 1.34% gain for the last 2 weeks.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.26 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.38% during the next 3 months and, with a 90% probability hold a price between $11.53 and $12.43 at the end of this 3-month period.
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AEAE Signals & Forecast
There are few to no technical positive signals at the moment. The Altenergy Acquisition Corp. 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 $11.36 and $11.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -0.351%. 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.
A sell signal from a double top formation was found on Friday, May 10, 2024 and based on theory for this formation the price should fall by -5.82% to $10.68 within 4 trading days since signal was issued (Thursday, May 16, 2024).
Support, Risk & Stop-loss for Altenergy Acquisition Corp. stock
Altenergy Acquisition Corp. finds support from accumulated volume at $11.23 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 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 $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0351%
Our recommended stop-loss: $10.82 (-4.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (AEAE) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Altenergy Acquisition Corp. to open at $11.34, and during the day (based on 14 day Average True Range), to move between $11.15 and $11.53, which gives a possible trading interval of +/-$0.195 (+/-1.72%) up or down from last closing price. If Altenergy Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.43 (0.79%) than the support at $11.23 (0.97%), 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 Altenergy Acquisition Corp. stock A Buy?
Altenergy Acquisition Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Altenergy Acquisition Corp. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $11.34 ( 0.00000000%) | $11.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AEAE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.34 | 0.00000000% |
| R2 | 11.34 | 0.00000000% |
| R1 | 11.34 | 0.00000000% |
| Price | 11.34 | |
| S1 | 11.34 | 0.00000000% |
| S2 | 11.34 | 0.00000000% |
| S3 | 11.34 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.91 | 5.03% |
| R2 | 11.50 | 1.41% |
| R1 | 11.43 | 0.794% |
| Price | 11.34 | |
| S1 | 11.23 | -0.97% |
| S2 | 11.22 | -1.06% |
| S3 | 11.20 | -1.23% |
FAQ
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