Allegro.eu SA Stock Forecast
Green day on Friday for Allegro.eu SA stock after gaining 3.00%
(Updated on Apr 26, 2024)
The Allegro.eu SA stock price gained 3.00% on the last trading day (Friday, 26th Apr 2024), rising from 32.30zł to 33.27zł. During the last trading day the stock fluctuated 3.97% from a day low at 32.61zł to a day high of 33.90zł. The price has risen in 7 of the last 10 days and is up by 7.53% 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, 830 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately 89.62zł 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 3.63% during the next 3 months and, with a 90% probability hold a price between 32.04zł and 35.58zł at the end of this 3-month period.
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ALE.WA Signals & Forecast
The Allegro.eu SA 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 32.97zł and 31.85zł. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, April 23, 2024, and so far it has fallen -0.165%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Allegro.eu SA stock
Allegro.eu SA finds support from accumulated volume at 33.06zł 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 1.30zł between high and low, or 3.97%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: 32.03zł (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ALE.WA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Allegro.eu SA to open at 33.26zł, and during the day (based on 14 day Average True Range), to move between 32.21zł and 34.33zł, which gives a possible trading interval of +/-1.06zł (+/-3.20%) up or down from last closing price. If Allegro.eu SA takes out the full calculated possible swing range there will be an estimated 6.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 33.30zł (0.08%) than the support at 33.06zł (0.63%), 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 Allegro.eu SA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Allegro.eu SA stock to perform well in the short-term.
Current score: 3.191 Buy Candidate Unchanged
Predicted Opening Price for Allegro.eu SA of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| 33.26zł ( 0.0351%) | 33.27zł |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALE.WA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.55 | 3.86 % | |
| R2 | 34.06 | 2.37 % | ||
| R1 | 33.75 | 1.45 % | ||
| Current price: | 33.27 | |||
| Support | S1 | 32.76 | -1.52 % | |
| S2 | 32.46 | -2.44 % | ||
| S3 | 31.96 | -3.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.54 | 0.81 % | |
| R2 | 33.33 | 0.165 % | ||
| R1 | 33.30 | 0.0751 % | ||
| Current price | 33.27 | |||
| Support | S1 | 33.06 | -0.631% | |
| S2 | 32.67 | -1.82% | ||
| S3 | 31.89 | -4.15% |
FAQ
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