Atlas Arteria Limited Stock Forecast
Weaker technical forecast for Atlas Arteria Limited as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Atlas Arteria Limited stock price gained 0.561% on the last trading day (Wednesday, 24th Apr 2024), rising from $5.35 to $5.38. During the last trading day the stock fluctuated 2.09% from a day low at $5.27 to a day high of $5.38. The price has fallen in 5 of the last 10 days but is still up by 0.19% over the past 2 weeks. Volume fell on the last day by -750 thousand shares and in total, 916 thousand shares were bought and sold for approximately $4.93 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 the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $5.43 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.71% during the next 3 months and, with a 90% probability hold a price between $4.89 and $5.28 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ALX.AX Signals & Forecast
The Atlas Arteria Limited 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 $5.36 and $5.31. A breakdown below any of these levels will issue sell signals. 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, April 22, 2024, and so far it has fallen -0.92%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Atlas Arteria Limited stock
Atlas Arteria Limited finds support from accumulated volume at $5.37 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.110 between high and low, or 2.09%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALX.AX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Atlas Arteria Limited to open at $5.34, and during the day (based on 14 day Average True Range), to move between $5.28 and $5.48, which gives a possible trading interval of +/-$0.102 (+/-1.90%) up or down from last closing price. If Atlas Arteria Limited takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.37 (0.19%) than the resistance at $5.40 (0.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Atlas Arteria Limited stock A Buy?
Atlas Arteria Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.929 Sell Candidate Downgraded
Predicted Opening Price for Atlas Arteria Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $5.34 ( 0.682%) | $5.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.45 | 1.36 % | |
| R2 | 5.41 | 0.582 % | ||
| R1 | 5.39 | 0.0995 % | ||
| Current price: | 5.38 | |||
| Support | S1 | 5.30 | -1.46 % | |
| S2 | 5.28 | -1.95 % | ||
| S3 | 5.23 | -2.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.43 | 0.93 % | |
| R2 | 5.42 | 0.743 % | ||
| R1 | 5.40 | 0.372 % | ||
| Current price | 5.38 | |||
| Support | S1 | 5.37 | -0.186% | |
| S2 | 5.35 | -0.558% | ||
| S3 | 5.33 | -0.93% |
ALX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Mar 26, 2024 | Apr 08, 2024 | $0.200 | 3.76% |
| 2 | Mar 28, 2023 | Mar 28, 2023 | Mar 28, 2023 | $0.200 | 3.17% |
| 3 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $0.200 | 3.15% |
| 4 | Mar 22, 2022 | Mar 22, 2022 | Mar 22, 2022 | $0.192 | 3.10% |
| 5 | Sep 24, 2021 | Sep 24, 2021 | Sep 24, 2021 | $0.145 | 2.33% |
FAQ
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