Altice USA Inc. Class A Stock Forecast
High volatility in Altice USA Inc. Class A stock price on Thursday which ended trading at $2.05
(Updated on May 02, 2024)
The Altice USA Inc. Class A stock price gained 0.99% on the last trading day (Thursday, 2nd May 2024), rising from $2.03 to $2.05. During the last trading day the stock fluctuated 14.93% from a day low at $2.01 to a day high of $2.31. The price has risen in 6 of the last 10 days and is up by 7.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $8.59 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.88 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.75% during the next 3 months and, with a 90% probability hold a price between $1.75 and $2.65 at the end of this 3-month period.
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ATUS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 7.33%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Altice USA Inc. Class A 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 $2.31. On a fall, the stock will find some support from the short-term average at $2.01. 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 for Altice USA Inc. Class A stock
Altice USA Inc. Class A finds support from accumulated volume at $2.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.300 between high and low, or 14.93%. For the last week, the stock has had daily average volatility of 9.45%.
Our recommended stop-loss: $1.95 (-4.67%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (ATUS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Altice USA Inc. Class A to open at $2.12, and during the day (based on 14 day Average True Range), to move between $1.88 and $2.22, which gives a possible trading interval of +/-$0.172 (+/-8.41%) up or down from last closing price. If Altice USA Inc. Class A takes out the full calculated possible swing range there will be an estimated 16.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.04 (0.49%) than the resistance at $2.18 (6.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Altice USA Inc. Class A stock A Buy?
Altice USA Inc. Class A holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.837 Hold/Accumulate Upgraded
Predicted Opening Price for Altice USA Inc. Class A of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $2.12 ( 3.58%) | $2.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATUS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.42 | 18.21 % | |
| R2 | 2.31 | 12.62 % | ||
| R1 | 2.24 | 9.17 % | ||
| Current price: | 2.05 | |||
| Support | S1 | 2.01 | -2.01 % | |
| S2 | 1.94 | -5.47 % | ||
| S3 | 1.82 | -11.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.49 | 21.46 % | |
| R2 | 2.44 | 19.02 % | ||
| R1 | 2.18 | 6.34 % | ||
| Current price | 2.05 | |||
| Support | S1 | 2.04 | -0.488% | |
| S2 | 2.02 | -1.46% | ||
| S3 | 2.00 | -2.44% |
ATUS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2018 | Jun 07, 2018 | Jun 06, 2018 | $2.04 | 10.12% |
FAQ
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