Alternus Clean Energy Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Alternus Clean Energy Inc stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The Alternus Clean Energy Inc stock price gained 2.34% on the last trading day (Monday, 24th Jun 2024), rising from $0.380 to $0.389. During the last trading day the stock fluctuated 3.56% from a day low at $0.376 to a day high of $0.389. The price has risen in 7 of the last 10 days and is up by 10.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately $16.49 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.23% during the next 3 months and, with a 90% probability hold a price between $0.261 and $0.392 at the end of this 3-month period.
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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
Fair opening price June 25, 2024 | Current price |
---|---|
$0.385 ( 1.08%) | $0.389 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALCE
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.398 | 2.37% |
R2 | 0.393 | 1.05% |
R1 | 0.390 | 0.236% |
Price | 0.389 | |
S1 | 0.380 | -2.40% |
S2 | 0.377 | -3.21% |
S3 | 0.371 | -4.52% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.460 | 18.25% |
R2 | 0.445 | 14.32% |
R1 | 0.401 | 2.96% |
Price | 0.389 | |
S1 | 0.385 | -1.08% |
S2 | 0.365 | -6.17% |
S3 | 0.340 | -12.62% |
FAQ
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