Altera Corp Stock Forecast
Altera Corp stock upgraded to Buy Candidate.
(Updated on Jun 24, 2024)
The Altera Corp stock price gained 0.85% on the last trading day (Monday, 24th Jun 2024), rising from $95.22 to $96.03. During the last trading day the stock fluctuated 3.19% from a day low at $95.26 to a day high of $98.30. The price has been going up and down for this period, and there has been a 12.37% gain for the last 2 weeks. Volume fell on the last day by -6 million shares and in total, 630 thousand shares were bought and sold for approximately $60.53 million. 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.41% during the next 3 months and, with a 90% probability hold a price between $101.11 and $115.48 at the end of this 3-month period.
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ALTR Signals & Forecast
The Altera Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $96.97. On a fall, the stock will find some support from the long-term average at approximately $90.35. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -3.20%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Altera Corp stock
Altera Corp finds support from accumulated volume at $95.22 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 $3.04 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: $92.40 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (ALTR) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Altera Corp to open at $96.53, and during the day (based on 14 day Average True Range), to move between $93.15 and $98.91, which gives a possible trading interval of +/-$2.88 (+/-3.00%) up or down from last closing price. If Altera Corp takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $96.37 (0.35%) than the support at $95.22 (0.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Altera Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Altera Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.119 Buy Candidate Upgraded
Predicted Opening Price for Altera Corp of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $96.53 ( 0.521%) | $96.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALTR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 99.57 | 3.69% |
| R2 | 98.41 | 2.48% |
| R1 | 97.69 | 1.73% |
| Price | 96.03 | |
| S1 | 95.37 | -0.689% |
| S2 | 94.65 | -1.44% |
| S3 | 93.49 | -2.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 99.20 | 3.30% |
| R2 | 97.17 | 1.19% |
| R1 | 96.37 | 0.354% |
| Price | 96.03 | |
| S1 | 95.22 | -0.84% |
| S2 | 94.47 | -1.62% |
| S3 | 92.92 | -3.24% |
ALTR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 22, 2015 | Nov 06, 2015 | Dec 01, 2015 | $0.180 | 0% |
| 2 | Jul 23, 2015 | Aug 06, 2015 | Sep 01, 2015 | $0.180 | 0% |
| 3 | Apr 23, 2015 | May 07, 2015 | Jun 01, 2015 | $0.180 | 0% |
| 4 | Jan 22, 2015 | Feb 06, 2015 | Mar 02, 2015 | $0.180 | 0% |
| 5 | Oct 23, 2014 | Nov 06, 2014 | Dec 01, 2014 | $0.180 | 0% |
FAQ
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