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Altus Midstream Co. Class A Stock Forecast NASDAQ:ALTM

$68.66 (-4.40%)

Volume: 43k

Closed: Nov 26, 2021

Hollow Logo Score: 0.180

Altus Midstream Co. Class A Stock Forecast

$68.66 (-4.40%)

Volume: 43k

Closed: Nov 26, 2021

Score Hollow Logo 0.180
Which way will ALTM go? Request
Stop-loss: $65.11 (-5.17%)
Key Stats
Beta 1.03
Trailing Dividend Rate 6.41% ($4.40)
Next Dividend Date Nov 29, 2021
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 20 - 80 ] RSI14 is 57 and the stock is currently not being overbought or oversold

Altus Midstream Co. Class A stock downgraded to Hold/Accumulate
(Updated on Nov 26, 2021)


Buy or Hold candidate since 2021-11-24 Loss -4.40%

The Altus Midstream Co. Class A stock price fell by -4.40% on the last day (Friday, 26th Nov 2021) from $71.82 to $68.66. During the day the stock fluctuated 5.84% from a day low at $66.14 to a day high of $70.00. The price has been going up and down for this period, and there has been a 5.39% gain 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 -85 thousand shares and in total, 43 thousand shares were bought and sold for approximately $2.93 million.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Altus Midstream Co. Class A stock with a 90% probability to be traded between $61.41 and $89.07 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.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, October 25, 2021, and so far it has risen 11.50%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Altus Midstream Co. Class A 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 $70.63. On a fall, the stock will find some support from the short-term average at $66.39. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

Altus Midstream Co. Class A finds support from accumulated volume at $68.01 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.86 between high and low, or 5.84%. For the last week, the stock has had a daily average volatility of 5.33%.

Our recommended stop-loss: $65.11 (-5.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)

Is Altus Midstream Co. Class A stock A Buy?

Altus Midstream Co. Class A 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: 0.180

Predicted Opening Price for Altus Midstream Co. Class A of Monday, November 29, 2021

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

Fair opening price November 29, 2021 Current price
$68.27 $68.66 (Overvalued)
Hold/Accumulate Downgraded

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Analyst Ratings

The last rating was given by Credit Suisse Group on Dec 11, 2020. The price target was changed from $10.00 to $45.00.

Volatility and Risk
Daily Average Volatility: 5.33 %
Overall Risk: Very High High Medium Low Very Low
Volatility
5.33 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $69.03
Price: $68.66
Support: $68.01

ALTM Insider Trading Show all Trades

INSIDER POWER

1.264

Last 98 transactions
Buy: 21 806 149 | Sell: 17 245 779 (Shares)
Date Action Amount Person Type
Nov 01, 2021 Buy 200 Bretches D. Clay CLASS A COMMON STOCK
Oct 01, 2021 Buy 200 Bretches D. Clay CLASS A COMMON STOCK
Sep 22, 2021 Buy 746 Mccarthy Kevin S Restricted Stock / Units
Sep 22, 2021 Buy 746 Purgason Robert S Restricted Stock / Units
Sep 01, 2021 Buy 200 Bretches D. Clay CLASS A COMMON STOCK
Show all Insider Trades
INSIDER POWER

1.264

Last 98 transactions
Buy: 21 806 149 | Sell: 17 245 779 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 72.13 5.05 %
70.65 2.90 %
69.74 1.57 %
Current price: 68.66
Support 66.79 -2.72 %
65.88 -4.05 %
64.41 -6.19 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 76.23 11.03 %
71.82 4.60 %
69.03 0.54 %
Current price 68.66
Support 68.01 -0.95%
61.94 -9.79%
61.58 -10.31%

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