Alliance Resource Stock Forecast

Alliance Resource stock downgraded to Sell Candidate
(Updated on Apr 15, 2024)

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 $20.99. On a fall, the stock will find some support from the long-term average at approximately $19.92. 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. 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 Friday, April 12, 2024, and so far it has fallen -0.85%. 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. 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.

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 $0.470 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 1.35%.

The Alliance Resource 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. 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: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ARLP) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Alliance Resource Partners to open at $20.95, and during the day (based on 14 day Average True Range), to move between $20.54 and $21.22, which gives a possible trading interval of +/-$0.336 (+/-1.61%) up or down from last closing price. If Alliance Resource Partners takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.57 (1.48%) than the resistance at $21.20 (1.53%), 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. 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: -3.335 Sell Candidate Downgraded

Predicted Opening Price for Alliance Resource Partners of Tuesday, April 16, 2024

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