ALX Oncology Holdings Inc. Stock Forecast
Volatile ride for ALX Oncology Holdings Inc. stock price on Tuesday moving between $14.12 and $15.76
(Updated on Apr 23, 2024)
The ALX Oncology Holdings Inc. stock price gained 8.92% on the last trading day (Tuesday, 23rd Apr 2024), rising from $14.23 to $15.50. During the last trading day the stock fluctuated 11.60% from a day low at $14.12 to a day high of $15.76. The price has fallen in 6 of the last 10 days but is still up by 25.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 152 thousand more shares were traded than the day before. In total, 439 thousand shares were bought and sold for approximately $6.80 million.
The stock lies the upper part of a very wide and 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 $15.90 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 -15.15% during the next 3 months and, with a 90% probability hold a price between $8.32 and $13.49 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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ALXO Signals & Forecast
The ALX Oncology Holdings Inc. 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 $14.93 and $12.82. 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 is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 17, 2024, and so far it has fallen -3.61%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ALX Oncology Holdings Inc. stock
ALX Oncology Holdings Inc. finds support from accumulated volume at $15.21 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.64 between high and low, or 11.60%. For the last week, the stock has had daily average volatility of 10.54%.
Our recommended stop-loss: $14.77 (-4.69%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ALXO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ALX Oncology Holdings Inc. to open at $15.13, and during the day (based on 14 day Average True Range), to move between $14.31 and $16.69, which gives a possible trading interval of +/-$1.19 (+/-7.65%) up or down from last closing price. If ALX Oncology Holdings Inc. takes out the full calculated possible swing range there will be an estimated 15.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.74 (1.55%) than the support at $15.21 (1.87%), 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 ALX Oncology Holdings Inc. stock A Buy?
ALX Oncology Holdings Inc. 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.
Current score: 0.789 Hold/Accumulate Unchanged
Predicted Opening Price for ALX Oncology Holdings Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $15.13 ( 2.40%) | $15.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALXO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.77 | 8.16 % | |
| R2 | 16.14 | 4.13 % | ||
| R1 | 15.75 | 1.63 % | ||
| Current price: | 15.50 | |||
| Support | S1 | 14.50 | -6.44 % | |
| S2 | 14.12 | -8.94 % | ||
| S3 | 13.49 | -12.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.45 | 6.13 % | |
| R2 | 16.08 | 3.74 % | ||
| R1 | 15.74 | 1.55 % | ||
| Current price | 15.50 | |||
| Support | S1 | 15.21 | -1.87% | |
| S2 | 14.49 | -6.52% | ||
| S3 | 12.23 | -21.10% |
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