ALX Oncology Holdings Inc. Stock Forecast
ALX Oncology Holdings Inc. stock upgraded to Strong Buy Candidate.
(Updated on Apr 25, 2024)
The ALX Oncology Holdings Inc. stock price gained 4.01% on the last trading day (Thursday, 25th Apr 2024), rising from $16.22 to $16.87. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.13% from a day low at $15.74 to a day high of $17.02. The price has been going up and down for this period, and there has been a 26.08% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 59 thousand more shares were traded than the day before. In total, 495 thousand shares were bought and sold for approximately $8.36 million.
Given the current short-term trend, the stock is expected to fall -11.79% during the next 3 months and, with a 90% probability hold a price between $8.91 and $14.88 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
Mostly positive signals in the chart today. 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 $15.75 and $12.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 57.37%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ALX Oncology Holdings Inc. stock
ALX Oncology Holdings Inc. finds support from accumulated volume at $16.08 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 $1.28 between high and low, or 8.13%. For the last week, the stock has had daily average volatility of 8.74%.
Our recommended stop-loss: $16.27 (-3.54%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ALXO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ALX Oncology Holdings Inc. to open at $16.54, and during the day (based on 14 day Average True Range), to move between $15.69 and $18.05, which gives a possible trading interval of +/-$1.18 (+/-7.01%) 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 14.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.08, some $0.790 (4.68%) from the current price of $16.87, our system finds the risk reward attractive.
Is ALX Oncology Holdings Inc. stock A Buy?
ALX Oncology Holdings Inc. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect ALX Oncology Holdings Inc. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.656 Strong Buy Candidate Upgraded
Predicted Opening Price for ALX Oncology Holdings Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $16.54 ( 1.94%) | $16.87 |
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 | 17.82 | 5.65 % | |
| R2 | 17.33 | 2.75 % | ||
| R1 | 17.03 | 0.96 % | ||
| Current price: | 16.87 | |||
| Support | S1 | 16.05 | -4.83 % | |
| S2 | 15.75 | -6.63 % | ||
| S3 | 15.26 | -9.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 16.87 | |||
| Support | S1 | 16.08 | -4.68% | |
| S2 | 15.21 | -9.84% | ||
| S3 | 14.49 | -14.11% |
FAQ
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