Altice USA Inc. Class A Stock Forecast
Red day on Tuesday for Altice USA Inc. Class A stock after losing 0.98%
(Updated on Jul 02, 2024)
The Altice USA Inc. Class A stock price fell by -0.98% on the last day (Tuesday, 2nd Jul 2024) from $2.04 to $2.02. During the last trading day the stock fluctuated 7.11% from a day low at $1.90 to a day high of $2.04. The price has fallen in 6 of the last 10 days and is down by -6.05% for this period. Volume has increased on the last day by 1 million 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, 4 million shares were bought and sold for approximately $7.74 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.95 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Altice USA Inc. Class A stock with a 90% probability to be traded between $1.99 and $2.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ATUS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.04 and $2.27. A break-up above any of these levels will issue buy signals. 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.
Support, Risk & Stop-loss for Altice USA Inc. Class A stock
Altice USA Inc. Class A finds support from accumulated volume at $2.00 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 $0.135 between high and low, or 7.11%. For the last week, the stock has had daily average volatility of 5.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATUS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Altice USA Inc. Class A to open at $1.99, and during the day (based on 14 day Average True Range), to move between $1.89 and $2.15, which gives a possible trading interval of +/-$0.130 (+/-6.43%) 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 12.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.04 (0.99%) than the support at $2.00 (0.99%), 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 Altice USA Inc. Class A stock A Buy?
Altice USA Inc. Class A holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.520 Sell Candidate Unchanged
Predicted Opening Price for Altice USA Inc. Class A of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.99 ( 1.73%) | $2.02 |
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 | |
|---|---|---|
| R3 | 2.12 | 4.95% |
| R2 | 2.07 | 2.40% |
| R1 | 2.04 | 0.82% |
| Price | 2.02 | |
| S1 | 1.93 | -4.29% |
| S2 | 1.90 | -5.86% |
| S3 | 1.85 | -8.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.44 | 20.79% |
| R2 | 2.18 | 7.92% |
| R1 | 2.04 | 0.99% |
| Price | 2.02 | |
| S1 | 2.00 | -0.99% |
| S2 | 1.98 | -1.98% |
| S3 | 1.95 | -3.47% |
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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