Alamo Group Inc Stock Forecast
Red day on Friday for Alamo Group Inc stock after losing 0.556%
(Updated on Apr 26, 2024)
The Alamo Group Inc stock price fell by -0.556% on the last day (Friday, 26th Apr 2024) from $199.63 to $198.52. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.66% from a day low at $197.90 to a day high of $201.20. The price has fallen in 7 of the last 10 days and is down by -7.19% for this period. 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 -64 thousand shares and in total, 50 thousand shares were bought and sold for approximately $9.88 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $196.30 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Alamo Group Inc stock with a 90% probability to be traded between $192.57 and $222.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALG Signals & Forecast
There are few to no technical positive signals at the moment. The Alamo Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $202.73 and $211.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -13.06%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Alamo Group Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $3.29 between high and low, or 1.66%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Alamo Group Inc to open at $199.21, and during the day (based on 14 day Average True Range), to move between $193.21 and $203.83, which gives a possible trading interval of +/-$5.31 (+/-2.67%) up or down from last closing price. If Alamo Group Inc takes out the full calculated possible swing range there will be an estimated 5.35% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $203.55, some $5.03 (2.53%) from the current price of $198.52, our system finds the risk reward not very attractive.
Earnings coming up
Alamo Group Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.66. We will update the financials statements for Alamo Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.85% in the first trading day after earnings release.
Is Alamo Group Inc stock A Buy?
Alamo Group Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.476 Sell Candidate Unchanged
Predicted Opening Price for Alamo Group Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $199.21 ( 0.345%) | $198.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 202.50 | 2.00 % | |
| R2 | 201.24 | 1.37 % | ||
| R1 | 200.46 | 0.98 % | ||
| Current price: | 198.52 | |||
| Support | S1 | 197.95 | -0.289 % | |
| S2 | 197.17 | -0.681 % | ||
| S3 | 195.91 | -1.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 225.21 | 13.44 % | |
| R2 | 213.89 | 7.74 % | ||
| R1 | 203.55 | 2.53 % | ||
| Current price | 198.52 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ALG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 15, 2024 | Apr 29, 2024 | $0.260 | 0.131% |
| 2 | Jan 02, 2024 | Jan 12, 2024 | Jan 29, 2024 | $0.260 | 0.120% |
| 3 | Oct 02, 2023 | Oct 13, 2023 | Oct 31, 2023 | $0.220 | 0.137% |
| 4 | Jul 03, 2023 | Jul 17, 2023 | Aug 01, 2023 | $0.220 | 0.112% |
| 5 | Apr 03, 2023 | Apr 14, 2023 | May 01, 2023 | $0.220 | 0.123% |
FAQ
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