Alternus Clean Energy Inc Stock Forecast

Alternus Clean Energy Inc stock price down 0.186% on Thursday
(Updated on Jun 20, 2024)

ALCE Signals & Forecast

The Alternus Clean Energy Inc 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 $0.368 and $0.363. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 12.92%. Further rise is indicated until a new top pivot has been found. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Alternus Clean Energy Inc stock

Alternus Clean Energy Inc finds support from accumulated volume at $0.365 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0206 between high and low, or 5.72%. For the last week the stock has had daily average volatility of 5.21%.

Our recommended stop-loss: $0.360 (-4.06%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 39 days ago.)

Trading Expectations (ALCE) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Alternus Clean Energy Inc to open at $0.372, and during the day (based on 14 day Average True Range), to move between $0.339 and $0.411, which gives a possible trading interval of +/-$0.0360 (+/-9.61%) up or down from last closing price. If Alternus Clean Energy Inc takes out the full calculated possible swing range there will be an estimated 19.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.385 (2.61%) than the support at $0.365 (2.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Alternus Clean Energy Inc stock A Buy?

Alternus Clean Energy Inc 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: -0.016 Hold/Accumulate Unchanged

Predicted Opening Price for Alternus Clean Energy Inc of Friday, June 21, 2024

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