Alliance Resource Stock Forecast
Alliance Resource stock downgraded to Hold/Accumulate
(Updated on Apr 26, 2024)
The Alliance Resource stock price fell by -1.63% on the last day (Friday, 26th Apr 2024) from $21.50 to $21.15. During the last trading day the stock fluctuated 2.32% from a day low at $21.11 to a day high of $21.60. The price has been going up and down for this period, and there has been a 0.43% gain for the last 2 weeks. Volume has increased on the last day by 196 thousand 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, 563 thousand shares were bought and sold for approximately $11.91 million.
The stock lies in the upper part of a wide and weak rising 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 $21.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.28% during the next 3 months and, with a 90% probability hold a price between $20.38 and $22.87 at the end of this 3-month period.
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ARLP Signals & Forecast
The Alliance Resource stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $21.20. On a fall, the stock will find some support from the long-term average at approximately $20.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 25, 2024, and so far it has fallen -1.63%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, March 15, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 15, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Alliance Resource stock
Alliance Resource finds support from accumulated volume at $20.57 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 $0.490 between high and low, or 2.32%. For the last week the stock has had daily average volatility of 1.49%.
Our recommended stop-loss: $20.40 (-3.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ARLP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Alliance Resource Partners to open at $21.29, and during the day (based on 14 day Average True Range), to move between $20.82 and $21.48, which gives a possible trading interval of +/-$0.330 (+/-1.56%) up or down from last closing price. If Alliance Resource Partners takes out the full calculated possible swing range there will be an estimated 3.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.20 (0.24%) than the support at $20.57 (2.74%), 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.
Earnings coming up
Alliance Resource will release earnings BMO on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.01. We will update the financials statements for Alliance Resource, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.93% in the first trading day after earnings release.
Is Alliance Resource Partners stock A Buy?
Alliance Resource holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.420 Hold/Accumulate Downgraded
Predicted Opening Price for Alliance Resource Partners of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$21.29 ( 0.646%) | $21.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARLP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.78 | 2.96 % | |
R2 | 21.59 | 2.08 % | ||
R1 | 21.47 | 1.53 % | ||
Current price: | 21.15 | |||
Support | S1 | 21.10 | -0.239 % | |
S2 | 20.98 | -0.786 % | ||
S3 | 20.80 | -1.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.28 | 0.615 % | |
R2 | 21.24 | 0.426 % | ||
R1 | 21.20 | 0.236 % | ||
Current price | 21.15 | |||
Support | S1 | 20.57 | -2.74% | |
S2 | 19.84 | -6.19% | ||
S3 | 19.75 | -6.62% |
ARLP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 26, 2024 | Feb 07, 2024 | Feb 14, 2024 | $0.700 | 3.54% |
2 | Jan 26, 2024 | Feb 06, 2024 | Feb 14, 2024 | $0.700 | 3.54% |
3 | Oct 25, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.700 | 3.13% |
4 | Jul 28, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.700 | 3.51% |
5 | Apr 28, 2023 | May 05, 2023 | May 15, 2023 | $0.700 | 3.65% |
FAQ
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