Alternus Clean Energy Inc Stock Forecast

Alternus Clean Energy Inc stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 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 $0.377 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 17.13%. Further rise is indicated until a new top pivot has been found. Alternus Clean Energy Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Alternus Clean Energy Inc stock

Alternus Clean Energy Inc finds support from accumulated volume at $0.385 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0134 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 4.57%.

Our recommended stop-loss: $0.373 (-4.00%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 41 days ago.)

Trading Expectations (ALCE) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Alternus Clean Energy Inc to open at $0.385, and during the day (based on 14 day Average True Range), to move between $0.356 and $0.422, which gives a possible trading interval of +/-$0.0326 (+/-8.39%) 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 16.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.385 (1.08%) than the resistance at $0.401 (2.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alternus Clean Energy Inc stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.111 Buy Candidate Upgraded

Predicted Opening Price for Alternus Clean Energy Inc of Tuesday, June 25, 2024

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