Alerus Financial Corporation Stock Forecast
Alerus Financial Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The Alerus Financial Corporation stock price gained 0.506% on the last trading day (Thursday, 28th Mar 2024), rising from $21.72 to $21.83. During the last trading day the stock fluctuated 1.98% from a day low at $21.47 to a day high of $21.90. The price has risen in 6 of the last 10 days and is up by 1.91% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 31 thousand shares were bought and sold for approximately $671.88 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Alerus Financial Corporation stock with a 90% probability to be traded between $20.60 and $24.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALRS Signals & Forecast
There are mixed signals in the stock today. The Alerus Financial Corporation 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 $21.88. On a fall, the stock will find some support from the short-term average at $21.62. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 4.85%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Alerus Financial Corporation stock
Alerus Financial Corporation finds support from accumulated volume at $21.72 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 controlled movements and therefore the general risk is considered 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 $0.425 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $20.87 (-4.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ALRS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Alerus Financial Corporation to open at $21.73, and during the day (based on 14 day Average True Range), to move between $21.20 and $22.46, which gives a possible trading interval of +/-$0.628 (+/-2.88%) up or down from last closing price. If Alerus Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.72 (0.50%) than the resistance at $22.00 (0.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alerus Financial Corporation stock A Buy?
Alerus Financial Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.917 Hold/Accumulate Upgraded
Predicted Opening Price for Alerus Financial Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$21.73 ( 0.450%) | $21.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALRS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.16 | 1.50 % | |
R2 | 21.99 | 0.753 % | ||
R1 | 21.89 | 0.293 % | ||
Current price: | 21.83 | |||
Support | S1 | 21.57 | -1.19 % | |
S2 | 21.47 | -1.65 % | ||
S3 | 21.31 | -2.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.50 | 12.23 % | |
R2 | 23.01 | 5.41 % | ||
R1 | 22.00 | 0.779 % | ||
Current price | 21.83 | |||
Support | S1 | 21.72 | -0.504% | |
S2 | 21.70 | -0.596% | ||
S3 | 21.12 | -3.25% |
ALRS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 27, 2024 | Mar 14, 2024 | Apr 12, 2024 | $0.190 | 0.87% |
2 | Dec 14, 2023 | Dec 26, 2023 | Jan 12, 2024 | $0.190 | 0.90% |
3 | Aug 23, 2023 | Sep 14, 2023 | Oct 13, 2023 | $0.190 | 1.09% |
4 | May 10, 2023 | Jun 14, 2023 | Jul 14, 2023 | $0.190 | 1.03% |
5 | Feb 21, 2023 | Mar 14, 2023 | Apr 14, 2023 | $0.180 | 1.16% |
FAQ
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