Allete 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
Green day on Thursday for Allete Inc stock after gaining 0.83%
(Updated on May 02, 2024)
The Allete Inc stock price gained 0.83% on the last trading day (Thursday, 2nd May 2024), rising from $60.34 to $60.84. During the last trading day the stock fluctuated 0.94% from a day low at $60.36 to a day high of $60.92. The price has risen in 6 of the last 10 days and is up by 4.02% over the past 2 weeks. Volume fell on the last day by -61 thousand shares and in total, 114 thousand shares were bought and sold for approximately $6.94 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $61.43 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.24% during the next 3 months and, with a 90% probability hold a price between $60.35 and $64.03 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ALE Signals & Forecast
Mostly positive signals in the chart today. The Allete 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 $59.76 and $59.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.99%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-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.
Golden Star
The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-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.
Support, Risk & Stop-loss for Allete Inc stock
Allete Inc finds support from accumulated volume at $58.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.565 between high and low, or 0.94%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: $58.30 (-4.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ALE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Allete Inc to open at $60.71, and during the day (based on 14 day Average True Range), to move between $59.85 and $61.83, which gives a possible trading interval of +/-$0.99 (+/-1.62%) up or down from last closing price. If Allete Inc takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $58.33, some $2.51 (4.13%) from the current price of $60.84, our system finds the risk reward attractive.
Earnings coming up
Allete Inc will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.09. We will update the financials statements for Allete Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.09% in the first trading day after earnings release.
Is Allete Inc 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 Allete Inc stock to perform well in the short-term.
Current score: 4.637 Buy Candidate Unchanged
Predicted Opening Price for Allete Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $60.71 ( 0.222%) | $60.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.27 | 0.707 % | |
| R2 | 61.05 | 0.352 % | ||
| R1 | 60.92 | 0.133 % | ||
| Current price: | 60.84 | |||
| Support | S1 | 60.49 | -0.577 % | |
| S2 | 60.36 | -0.796 % | ||
| S3 | 60.14 | -1.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 60.84 | |||
| Support | S1 | 58.33 | -4.13% | |
| S2 | 57.87 | -4.88% | ||
| S3 | 57.75 | -5.08% |
ALE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 14, 2024 | $0 | 0% |
| 2 | Jan 26, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.705 | 1.25% |
| 3 | Nov 14, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.678 | 1.21% |
| 4 | Jul 31, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.678 | 1.23% |
| 5 | Apr 27, 2023 | May 12, 2023 | Jun 01, 2023 | $0.678 | 1.17% |
FAQ
Click here for our free guide on how to buy Allete Inc Stock.
