Altus Power, Inc. Stock Forecast
Volatile ride for Altus Power, Inc. stock price on Friday moving between $4.37 and $5.49
(Updated on May 10, 2024)
The Altus Power, Inc. stock price fell by -2.42% on the last day (Friday, 10th May 2024) from $4.55 to $4.44. During the last trading day the stock fluctuated 25.63% from a day low at $4.37 to a day high of $5.49. The price has risen in 7 of the last 10 days and is up by 22.65% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $10.85 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 $4.49 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 -44.91% during the next 3 months and, with a 90% probability hold a price between $1.63 and $2.47 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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AMPS Signals & Forecast
The Altus Power, 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 $4.39 and $4.26. 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). 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, May 09, 2024, and so far it has fallen -2.42%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Altus Power, Inc. stock
Altus Power, Inc. finds support from accumulated volume at $4.42 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.12 between high and low, or 25.63%. For the last week, the stock has had daily average volatility of 8.52%.
The Altus Power, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $4.29 (-3.40%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (AMPS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Altus Power, Inc. to open at $4.77, and during the day (based on 14 day Average True Range), to move between $4.13 and $4.75, which gives a possible trading interval of +/-$0.307 (+/-6.91%) up or down from last closing price. If Altus Power, Inc. takes out the full calculated possible swing range there will be an estimated 13.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.46 (0.45%) than the support at $4.42 (0.45%), 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 Altus Power, Inc. stock A Buy?
Altus Power, 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: -0.517 Hold/Accumulate Unchanged
Predicted Opening Price for Altus Power, Inc. of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$4.77 ( 7.36%) | $4.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMPS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.89 | 32.58 % | |
R2 | 5.46 | 22.95 % | ||
R1 | 5.19 | 16.99 % | ||
Current price: | 4.44 | |||
Support | S1 | 4.34 | -2.28 % | |
S2 | 4.07 | -8.23 % | ||
S3 | 3.65 | -17.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.72 | 6.31 % | |
R2 | 4.57 | 2.93 % | ||
R1 | 4.46 | 0.450 % | ||
Current price | 4.44 | |||
Support | S1 | 4.42 | -0.450% | |
S2 | 3.86 | -13.06% | ||
S3 | 3.72 | -16.22% |
AMPS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 28, 2014 | Dec 01, 2014 | Dec 05, 2014 | $0.130 | 0% |
2 | Nov 03, 2014 | Nov 03, 2014 | Nov 07, 2014 | $0.130 | 0% |
3 | Oct 01, 2014 | Oct 01, 2014 | Oct 07, 2014 | $0.130 | 0% |
4 | Nov 29, 2013 | Dec 02, 2013 | Dec 06, 2013 | $0.140 | 0% |
5 | Nov 01, 2013 | Nov 01, 2013 | Nov 07, 2013 | $0.140 | 0% |
FAQ
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