Alliance Resource Partners stock downgraded to Sell Candidate
(Updated on Dec 08, 2021)
Sell candidate since 2021-12-08 PDF
The Alliance Resource Partners stock price gained 1.45% on the last trading day (Wednesday, 8th Dec 2021), rising from $10.34 to $10.49. , and has now gained 4 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 day the stock fluctuated 3.79% from a day low at $10.29 to a day high of $10.68. The price has fallen in 6 of the last 10 days and is down by -4.81% for this period. Volume fell on the last day by -437 thousand shares and in total, 208 thousand shares were bought and sold for approximately $2.18 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 in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.32% during the next 3 months and, with a 90% probability hold a price between $10.39 and $13.38 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 5.75%. 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 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. The Alliance Resource Partners stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $11.01. On a fall, the stock will find some support from the short-term average at $10.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss
Alliance Resource Partners finds support from accumulated volume at $10.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.39 between high and low, or 3.79%. For the last week, the stock has had a daily average volatility of 5.31%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Alliance Resource Partners stock A Buy?
Alliance Resource Partners 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: -1.247
Predicted Opening Price for Alliance Resource Partners of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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B. Riley does not see either upside or downside right now giving ARLP "Neutral" on their last update on Apr 17, 2020. The price target was changed from $6.00 to $7.00.
ARLP Insider Trading
|Nov 12, 2021||Buy||379||Whelan Timothy J||Phantom unit|
|Nov 12, 2021||Buy||1 089||Wynne Thomas M||Phantom unit|
|Nov 12, 2021||Buy||649||Tholen Kirk||Phantom unit|
|Nov 12, 2021||Buy||169||Torrence Wilson M||Phantom unit|
|Nov 12, 2021||Buy||1 167||Sachse Robert G||Phantom unit|
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