Alcon AG Stock Forecast

Alcon AG stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

ALC.SW Signals & Forecast

The Alcon AG 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 77.50 Fr and 74.39 Fr. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 16, 2024, and so far it has fallen -0.99%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Alcon AG stock

Alcon AG finds support from accumulated volume at 79.94 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 1.60 Fr between high and low, or 2.01%. For the last week, the stock has had daily average volatility of 2.22%.

The Alcon AG 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 and the RSI is still moving upwards. 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.

Our recommended stop-loss: 77.92 Fr (-2.70%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ALC.SW) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Alcon AG to open at 80.17 Fr, and during the day (based on 14 day Average True Range), to move between 78.52 Fr and 81.64 Fr, which gives a possible trading interval of +/-1.56 Fr (+/-1.94%) up or down from last closing price. If Alcon AG takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 79.94 Fr (0.17%) than the resistance at 80.72 Fr (0.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alcon AG 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 Alcon AG 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: 3.097 Buy Candidate Upgraded

Predicted Opening Price for Alcon AG of Tuesday, May 21, 2024

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