AltC Acquisition Corp. Stock Forecast
High volatility in AltC Acquisition Corp. stock price on Friday which ended trading at $14.83
(Updated on May 03, 2024)
The AltC Acquisition Corp. stock price gained 15.77% on the last trading day (Friday, 3rd May 2024), rising from $12.81 to $14.83. During the last trading day the stock fluctuated 10.54% from a day low at $13.47 to a day high of $14.89. The price has risen in 6 of the last 10 days and is up by 18.64% over the past 2 weeks. Volume fell on the last day by -110 thousand shares and in total, 2 million shares were bought and sold for approximately $31.04 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong 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 $15.02 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.26% during the next 3 months and, with a 90% probability hold a price between $14.55 and $16.86 at the end of this 3-month period.
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ALCC Signals & Forecast
The AltC Acquisition Corp. 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 $13.65 and $11.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 15.77%. 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). 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.
A buy signal from a double bottom formation was found on Thursday, May 02, 2024 with a target of $14.42. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for AltC Acquisition Corp. stock
AltC Acquisition Corp. finds support from accumulated volume at $14.42 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 $1.42 between high and low, or 10.54%. For the last week the stock has had daily average volatility of 12.56%.
Our recommended stop-loss: $14.36 (-3.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ALCC) For The Upcoming Trading Day Of Monday 6th
With no resistance above and support from accumulated volume @ $14.42, some $0.410 (2.76%) from the current price of $14.83, our system finds the risk reward attractive.
Is AltC Acquisition Corp. stock A Buy?
AltC Acquisition Corp. 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 AltC Acquisition Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $14.40 ( 2.92%) | $14.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.82 | 6.65 % | |
| R2 | 15.27 | 3.00 % | ||
| R1 | 14.94 | 0.736 % | ||
| Current price: | 14.83 | |||
| Support | S1 | 13.85 | -6.58 % | |
| S2 | 13.52 | -8.84 % | ||
| S3 | 12.98 | -12.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 14.83 | |||
| Support | S1 | 14.42 | -2.76% | |
| S2 | 13.74 | -7.35% | ||
| S3 | 12.81 | -13.62% |
FAQ
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