Air Lease Corporation Stock Forecast

Air Lease Corporation stock price ended at $51.56 on Thursday, after gaining 0.311%.
(Updated on Apr 25, 2024)

AL Signals & Forecast

The Air Lease Corporation 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 $49.99 and $48.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.93%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Air Lease Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $47.13 and $42.72. 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, Air Lease Corporation finds support just below today's level at $47.13. If this is broken, then the next support from accumulated volume will be at $42.72 and $41.87.

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 $1.22 (2.42%) between high and low. For the last week, the stock has had daily average volatility of 2.07%.

Since the Air Lease Corporation has been rising for 8 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: $49.66 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (AL) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Air Lease Corporation to open at $51.19, and during the day (based on 14 day Average True Range), to move between $50.50 and $52.62, which gives a possible trading interval of +/-$1.06 (+/-2.07%) up or down from last closing price. If Air Lease Corporation takes out the full calculated possible swing range there will be an estimated 4.13% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $47.13, some $4.43 (8.59%) from the current price of $51.56, our system finds the risk reward attractive.

Is Air Lease Corporation 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 Air Lease Corporation stock to perform well in the short-term.

Current score: 3.840 Buy Candidate Unchanged

Predicted Opening Price for Air Lease Corporation of Friday, April 26, 2024

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