Weaker technical forecast for Alico as stock downgraded to Sell Candidate.
(Updated on Dec 08, 2021)

The Alico stock price fell by -0.31% on the last day (Wednesday, 8th Dec 2021) from $36.02 to $35.91. and has now fallen 3 days in a row. During the day the stock fluctuated 3.52% from a day low at $35.50 to a day high of $36.75. The price has fallen in 6 of the last 10 days, but is still up by 0.73% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 thousand shares and in total, 32 thousand shares were bought and sold for approximately $1.15 million.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.78% during the next 3 months and, with a 90% probability hold a price between $35.39 and $38.95 at the end of this 3-month period.

Signals & Forecast

The Alico stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $35.34 and $35.90. A breakdown below any of these levels will issue sell signals. 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 Monday, December 06, 2021, and so far it has fallen -1.67%. Further fall is indicated until a new bottom pivot has been found. 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 stock had a Golden Star Signal on Thursday, February 04, 2021 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Thursday, February 04, 2021 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, December 01, 2021 and based on theory for this formation the price should go up by 6.29% to $38.17 within 43 trading days since signal was issued (Tuesday, February 01, 2022).

Support, Risk & Stop-loss

Alico finds support from accumulated volume at $35.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.25 between high and low, or 3.52%. For the last week the stock has had a daily average volatility of 4.40%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Alico stock A Buy?

Alico holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.550

Remember To Visit Our YouTube Channel