Allegheny Technologies Incorporated Stock Forecast
Red day on Thursday for Allegheny Technologies Incorporated stock after losing 1.39%
(Updated on May 02, 2024)
The Allegheny Technologies Incorporated stock price fell by -1.39% on the last day (Thursday, 2nd May 2024) from $58.87 to $58.05. During the last trading day the stock fluctuated 3.25% from a day low at $57.75 to a day high of $59.63. The price has been going up and down for this period, and there has been a 13.6% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -364 thousand shares and in total, 2 million shares were bought and sold for approximately $118.94 million.
The stock lies in the upper part of a wide and strong 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 $60.06 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 22.70% during the next 3 months and, with a 90% probability hold a price between $61.02 and $73.70 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ATI Signals & Forecast
The Allegheny Technologies Incorporated 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 $54.19 and $51.08. 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 Tuesday, April 30, 2024, and so far it has fallen -2.76%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Allegheny Technologies Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $48.30 and $46.61. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Allegheny Technologies Incorporated finds support just below today's level at $48.30. If this is broken, then the next support from accumulated volume will be at $46.61 and $44.44.
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 $1.88 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 5.97%.
Our recommended stop-loss: $55.38 (-4.59%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ATI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Allegheny Technologies Incorporated to open at $58.48, and during the day (based on 14 day Average True Range), to move between $55.88 and $60.22, which gives a possible trading interval of +/-$2.17 (+/-3.74%) up or down from last closing price. If Allegheny Technologies Incorporated takes out the full calculated possible swing range there will be an estimated 7.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.87 (1.41%) than the support at $48.30 (16.80%), 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 Allegheny Technologies Incorporated stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Allegheny Technologies Incorporated stock to perform well in the short-term.
Current score: 1.315 Buy Candidate Unchanged
Predicted Opening Price for Allegheny Technologies Incorporated of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$58.48 ( 0.734%) | $58.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 60.36 | 3.97 % | |
R2 | 59.64 | 2.73 % | ||
R1 | 59.19 | 1.97 % | ||
Current price: | 58.05 | |||
Support | S1 | 57.76 | -0.502 % | |
S2 | 57.32 | -1.27 % | ||
S3 | 56.60 | -2.50 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 59.70 | 2.84 % | ||
R1 | 58.87 | 1.41 % | ||
Current price | 58.05 | |||
Support | S1 | 48.30 | -16.80% | |
S2 | 46.61 | -19.71% | ||
S3 | 44.44 | -23.45% |
ATI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 05, 2016 | Aug 16, 2016 | Sep 08, 2016 | $0.0800 | 0.446% |
2 | May 06, 2016 | May 25, 2016 | Jun 09, 2016 | $0.0800 | 0.585% |
3 | Feb 26, 2016 | Mar 09, 2016 | Mar 24, 2016 | $0.0800 | 0.494% |
4 | Dec 10, 2015 | Dec 17, 2015 | Dec 30, 2015 | $0.0800 | 0.705% |
5 | Jul 30, 2015 | Aug 17, 2015 | Sep 16, 2015 | $0.180 | 0.97% |
FAQ
Click here for our free guide on how to buy Allegheny Technologies Incorporated Stock.