Alimak Group AB (publ) Stock Forecast

Alimak Group AB (publ) stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

ALIG.ST Signals & Forecast

The Alimak Group AB (publ) 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 kr110.71 and kr100.31. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Alimak Group AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr97.20 and kr96.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Alimak Group AB (publ) finds support just below today's level at kr97.20. If this is broken, then the next support from accumulated volume will be at kr96.10 and kr96.00.

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 kr2.20 between high and low, or 1.97%. For the last week, the stock has had daily average volatility of 2.09%.

The Alimak Group AB (publ) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr108.76 (-3.24%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ALIG.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Alimak Group AB (publ) to open at kr112.60, and during the day (based on 14 day Average True Range), to move between kr109.80 and kr115.00, which gives a possible trading interval of +/-kr2.60 (+/-2.31%) up or down from last closing price. If Alimak Group AB (publ) takes out the full calculated possible swing range there will be an estimated 4.63% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr97.20, some kr15.20 (13.52%) from the current price of kr112.40, our system finds the risk reward attractive.

Is Alimak Group AB (publ) 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 Alimak Group AB (publ) stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.243 Buy Candidate Upgraded

Predicted Opening Price for Alimak Group AB (publ) of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.