The Allstate Corporation Stock Forecast
Evaluation of The Allstate Corporation stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The The Allstate Corporation stock price fell by -2.12% on the last day (Friday, 28th Jun 2024) from $27.30 to $26.72. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.86% from a day low at $26.72 to a day high of $26.95. The price has been going up and down for this period, and there has been a -2.02% loss for the last 2 weeks. 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 -23 thousand shares and in total, 29 thousand shares were bought and sold for approximately $763.20 thousand.
The stock has broken the narrow and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $26.75. A reaction back to this level may hold a second chance to get out before further falls.
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ALL-PJ Signals & Forecast
There are few to no technical positive signals at the moment. The The Allstate Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $27.21 and $27.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -2.41%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for The Allstate Corporation stock
The Allstate Corporation finds support from accumulated volume at $26.42 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.230 between high and low, or 0.86%. For the last week the stock has had daily average volatility of 0.467%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALL-PJ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect The Allstate Corporation to open at $26.80, and during the day (based on 14 day Average True Range), to move between $26.52 and $26.92, which gives a possible trading interval of +/-$0.197 (+/-0.74%) up or down from last closing price. If The Allstate Corporation takes out the full calculated possible swing range there will be an estimated 1.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.94 (0.82%) than the support at $26.42 (1.12%), 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 The Allstate Corporation stock A Buy?
The The Allstate Corporation stock holds several negative signals and despite the positive trend, we believe The Allstate Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.205 Sell Candidate Downgraded
Predicted Opening Price for The Allstate Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $26.80 ( 0.287%) | $26.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALL-PJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.03 | 1.15% |
| R2 | 26.94 | 0.82% |
| R1 | 26.88 | 0.616% |
| Price | 26.72 | |
| S1 | 26.71 | -0.0419% |
| S2 | 26.65 | -0.245% |
| S3 | 26.57 | -0.574% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.33 | 2.28% |
| R2 | 27.05 | 1.24% |
| R1 | 26.94 | 0.82% |
| Price | 26.72 | |
| S1 | 26.42 | -1.12% |
| S2 | 26.32 | -1.50% |
| S3 | 26.28 | -1.65% |
ALL-PJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.461 | 1.72% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.461 | 1.77% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.461 | 1.72% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.753 | 2.87% |
FAQ
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