Alpha Growth Plc Stock Forecast
Volatile ride for Alpha Growth Plc stock price on Friday moving between £1.10 and £1.30
(Updated on Apr 26, 2024)
No changes to the price of Alpha Growth Plc stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 18.18% from a day low at £1.10 to a day high of £1.30. The price has risen in 4 of the last 10 days.
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 -7.66% during the next 3 months and, with a 90% probability hold a price between £0.98 and £1.23 at the end of this 3-month period.
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ALGW.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.64%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alpha Growth Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £1.20. On a fall, the stock will find some support from the short-term average at £1.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Alpha Growth Plc stock
Alpha Growth Plc finds support from accumulated volume at £1.15 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 £0.200 between high and low, or 18.18%. For the last week the stock has had daily average volatility of 7.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALGW.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Alpha Growth Plc to open at £1.20, and during the day (based on 14 day Average True Range), to move between £1.11 and £1.29, which gives a possible trading interval of +/-£0.0940 (+/-7.84%) up or down from last closing price. If Alpha Growth Plc takes out the full calculated possible swing range there will be an estimated 15.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1.20 (0.17%) than the support at £1.15 (4.17%), 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.
Earnings coming up
Alpha Growth Plc will release earnings BMO on Tuesday, April 30, 2024. We will update the financials statements for Alpha Growth Plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.53% in the first trading day after earnings release.
Is Alpha Growth Plc stock A Buy?
Alpha Growth Plc 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.
Current score: -2.882 Sell Candidate Unchanged
Predicted Opening Price for Alpha Growth Plc of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
£1.20 ( 0.00000000%) | £1.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALGW.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.40 | 16.67 % | |
R2 | 1.32 | 10.30 % | ||
R1 | 1.28 | 6.37 % | ||
Current price: | 1.20 | |||
Support | S1 | 1.12 | -6.37 % | |
S2 | 1.08 | -10.30 % | ||
S3 | 1.00 | -16.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.40 | 16.67 % | |
R2 | 1.25 | 4.17 % | ||
R1 | 1.20 | 0.167 % | ||
Current price | 1.20 | |||
Support | S1 | 1.15 | -4.17% | |
S2 | 1.13 | -6.25% | ||
S3 | 1.10 | -7.95% |
FAQ
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