Alliance Resource Stock Forecast
Green day on Friday for Alliance Resource stock after gaining 2.39%
(Updated on Mar 24, 2023)
The Alliance Resource stock price gained 2.39% on the last trading day (Friday, 24th Mar 2023), rising from $18.81 to $19.26. During the last trading day the stock fluctuated 4.27% from a day low at $18.50 to a day high of $19.29. The price has fallen in 6 of the last 10 days but is still up by 0.16% over the past 2 weeks. Volume fell on the last day by -224 thousand shares and in total, 216 thousand shares were bought and sold for approximately $4.16 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.
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The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.96% during the next 3 months and, with a 90% probability hold a price between $17.20 and $21.11 at the end of this 3-month period.
ARLP Signals & Forecast
There are mixed signals in the stock today. The Alliance Resource 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 $20.37. On a fall, the stock will find some support from the short-term average at $19.18. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, March 15, 2023, and so far it has risen 5.65%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Alliance Resource stock
Alliance Resource finds support from accumulated volume at $19.23 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 $0.790 between high and low, or 4.27%. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARLP) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Alliance Resource Partners to open at $19.02, and during the day (based on 14 day Average True Range), to move between $18.56 and $19.96, which gives a possible trading interval of +/-$0.699 (+/-3.63%) up or down from last closing price. If Alliance Resource Partners takes out the full calculated possible swing range there will be an estimated 7.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.23 (0.16%) than the resistance at $20.42 (6.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alliance Resource Partners stock A Buy?
Alliance Resource 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.
Current score: -1.610 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for Alliance Resource Partners of Monday, March 27, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 27, 2023 | Current price |
|---|---|
| $19.02 | $19.26 (Overvalued) |
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Trading levels for ARLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.81 | 2.84 % | |
| R2 | 19.50 | 1.27 % | ||
| R1 | 19.32 | 0.303 % | ||
| Current price: | 19.26 | |||
| Support | S1 | 18.71 | -2.83 % | |
| S2 | 18.53 | -3.80 % | ||
| S3 | 18.23 | -5.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.54 | 17.03 % | |
| R2 | 22.31 | 15.84 % | ||
| R1 | 20.42 | 6.02 % | ||
| Current price | 19.26 | |||
| Support | S1 | 19.23 | -0.156% | |
| S2 | 18.86 | -2.08% | ||
| S3 | 18.23 | -5.35% |
FAQ
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About Alliance Resource Partners
Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties. It produces a range of thermal and metallurgical coal with sulfur and heat contents. The company operates seven underground mining complexe... ARLP Profile
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