Altarea SCA Stock Forecast

Weaker technical forecast for Altarea SCA as stock downgraded to Hold/Accumulate.
(Updated on May 27, 2024)

ALTA.PA Signals & Forecast

The Altarea SCA 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 103.19€ and 89.01€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 43.28%. Further rise is indicated until a new top pivot has been found. Altarea SCA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Altarea SCA stock

Altarea SCA finds support from accumulated volume at 103.40€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 3.80€ between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 2.65%.

Our recommended stop-loss: 103.77€ (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 39 days ago.)

Trading Expectations (ALTA.PA) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Altarea SCA to open at 106.47€, and during the day (based on 14 day Average True Range), to move between 104.88€ and 110.32€, which gives a possible trading interval of +/-2.72€ (+/-2.53%) up or down from last closing price. If Altarea SCA takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 103.40€, some 4.20€ (3.90%) from the current price of 107.60€, our system finds the risk reward attractive.

Is Altarea SCA stock A Buy?

Altarea SCA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Altarea SCA of Tuesday, May 28, 2024

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