Alithya Group inc Class A Stock Forecast

Evaluation of Alithya Group inc Class A stock downgraded after the last trading session.
(Updated on May 17, 2024)

ALYA.TO Signals & Forecast

The Alithya Group inc Class A 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 $2.15 and $2.08. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, March 21, 2024, and so far it has fallen -8.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Alithya Group inc Class A stock

Alithya Group inc Class A finds support from accumulated volume at $2.15 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 $0.0100 between high and low, or 0.463%. For the last week the stock has had daily average volatility of 0.84%.

Our recommended stop-loss: $2.03 (-5.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 40 days ago.)

Trading Expectations (ALYA.TO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Alithya Group inc Class A to open at $2.16, and during the day (based on 14 day Average True Range), to move between $2.12 and $2.20, which gives a possible trading interval of +/-$0.0410 (+/-1.90%) up or down from last closing price. If Alithya Group inc Class A takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.15 (0.46%) than the resistance at $2.20 (1.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alithya Group inc Class A stock A Buy?

Alithya Group inc 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Alithya Group inc Class A of Tuesday, May 21, 2024

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