AltC Acquisition Corp. Stock Forecast

AltC Acquisition Corp. stock price down 0% on Friday
(Updated on May 17, 2024)

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 $18.23 and $13.14. 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%. Further fall is indicated until a new bottom pivot has been found. 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.

Buy

Special Signal Notification

Double Bottom Formation

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

On the downside, the stock finds support just below today's level from accumulated volume at $15.17 and $14.95. 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, AltC Acquisition Corp. finds support just below today's level at $15.17. If this is broken, then the next support from accumulated volume will be at $14.95 and $14.34.

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%

Our recommended stop-loss: $17.58 (-3.56%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ALCC) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect AltC Acquisition Corp. to open at $18.23, and during the day (based on 14 day Average True Range), to move between $17.26 and $19.20, which gives a possible trading interval of +/-$0.97 (+/-5.35%) up or down from last closing price. If AltC Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 10.69% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $15.17, some $3.06 (16.79%) from the current price of $18.23, 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 20, 2024

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