AltaGas Ltd. Stock Forecast
AltaGas Ltd. stock price up 1.05% on Friday
(Updated on May 17, 2024)
The AltaGas Ltd. stock price gained 1.05% on the last trading day (Friday, 17th May 2024), rising from $30.49 to $30.81. During the last trading day the stock fluctuated 1.05% from a day low at $30.52 to a day high of $30.84. The price has risen in 5 of the last 10 days and is up by 1.48% 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, 782 thousand more shares were traded than the day before. In total, 782 thousand shares were bought and sold for approximately $24.08 million.
The stock lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $30.89 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.88% during the next 3 months and, with a 90% probability hold a price between $31.38 and $32.70 at the end of this 3-month period.
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ALA.TO Signals & Forecast
The AltaGas 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 $30.59 and $29.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.24%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 AltaGas Ltd. stock
AltaGas Ltd. finds support from accumulated volume at $29.30 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 $0.320 between high and low, or 1.05%. For the last week the stock has had daily average volatility of 0.95%.
Our recommended stop-loss: $29.14 (-5.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ALA.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect AltaGas Ltd. to open at $30.72, and during the day (based on 14 day Average True Range), to move between $30.41 and $31.21, which gives a possible trading interval of +/-$0.403 (+/-1.31%) up or down from last closing price. If AltaGas Ltd. takes out the full calculated possible swing range there will be an estimated 2.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $29.30, some $1.51 (4.90%) from the current price of $30.81, our system finds the risk reward attractive.
Is AltaGas Ltd. stock A Buy?
AltaGas Ltd. 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: 0.000 Hold/Accumulate Unchanged
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 AltaGas Ltd. of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$30.72 ( 0.281%) | $30.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALA.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.04 | 0.757 % | |
R2 | 30.92 | 0.361 % | ||
R1 | 30.85 | 0.115 % | ||
Current price: | 30.81 | |||
Support | S1 | 30.60 | -0.678 % | |
S2 | 30.53 | -0.92 % | ||
S3 | 30.40 | -1.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 30.81 | |||
Support | S1 | 29.30 | -4.90% | |
S2 | 29.27 | -5.00% | ||
S3 | 29.25 | -5.06% |
ALA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.298 | 0.97% |
2 | Mar 14, 2024 | Mar 14, 2024 | Mar 14, 2024 | $0 | 0% |
3 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0 | 0% |
4 | Jul 28, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.280 | 1.07% |
5 | Jun 15, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.280 | 1.18% |
FAQ
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