Alpargatas S.A. Stock Forecast

Alpargatas S.A. stock price down 1.51% on Friday
(Updated on Jun 21, 2024)

ALPA3.SA Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.00%. 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 Alpargatas S.A. 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 R$9.20 and R$9.79. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Alpargatas S.A. stock

Alpargatas S.A. finds support from accumulated volume at R$9.06 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 R$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.98%.

Alpargatas S.A. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ALPA3.SA) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Alpargatas S.A. to open at R$9.11, and during the day (based on 14 day Average True Range), to move between R$8.89 and R$9.33, which gives a possible trading interval of +/-R$0.224 (+/-2.46%) up or down from last closing price. If Alpargatas S.A. takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at R$9.06 (0.55%) than the resistance at R$9.24 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alpargatas S.A. stock A Buy?

Alpargatas S.A. 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: -2.079 Sell Candidate Unchanged

Predicted Opening Price for Alpargatas S.A. of Monday, June 24, 2024

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