Allego N.V. Stock Forecast
High volatility in Allego N.V. stock price on Thursday which ended trading at $1.45
(Updated on Mar 28, 2024)
The Allego N.V. stock price gained 9.02% on the last trading day (Thursday, 28th Mar 2024), rising from $1.33 to $1.45. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 45.52% from a day low at $1.45 to a day high of $2.11. The price has risen in 6 of the last 10 days and is up by 109.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $14.11 million.
Given the current short-term trend, the stock is expected to fall -19.14% during the next 3 months and, with a 90% probability hold a price between $0.420 and $1.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ALLG Signals & Forecast
Mostly positive signals in the chart today. The Allego N.V. 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 $0.99 and $0.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 154.39%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Allego N.V. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.33 and $1.26. 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, Allego N.V. finds support just below today's level at $1.33. If this is broken, then the next support from accumulated volume will be at $1.26 and $1.16.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.660 between high and low, or 45.52%. For the last week, the stock has had daily average volatility of 33.87%.
Our recommended stop-loss: $1.40 (-3.64%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (ALLG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Allego N.V. to open at $1.67, and during the day (based on 14 day Average True Range), to move between $1.26 and $1.64, which gives a possible trading interval of +/-$0.194 (+/-13.37%) up or down from last closing price. If Allego N.V. takes out the full calculated possible swing range there will be an estimated 26.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.33, some $0.120 (8.28%) from the current price of $1.45, our system finds the risk reward attractive.
Is Allego N.V. stock A Buy?
Allego N.V. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Allego N.V. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.500 Strong Buy Candidate Upgraded
Predicted Opening Price for Allego N.V. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.67 ( 15.17%) | $1.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALLG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.33 | 60.69 % | |
R2 | 2.08 | 43.30 % | ||
R1 | 1.92 | 32.56 % | ||
Current price: | 1.45 | |||
Support | S1 | 1.42 | -2.22 % | |
S2 | 1.26 | -12.96 % | ||
S3 | 1.01 | -30.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 1.45 | |||
Support | S1 | 1.33 | -8.28% | |
S2 | 1.26 | -13.10% | ||
S3 | 1.16 | -20.00% |
FAQ
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