Full Truck Alliance Co. Ltd. Stock Forecast
Stronger technical forecast for Full Truck Alliance Co. Ltd. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Full Truck Alliance Co. Ltd. stock price gained 4.78% on the last trading day (Friday, 26th Apr 2024), rising from $8.37 to $8.77. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.98% from a day low at $8.43 to a day high of $8.85. The price has risen in 8 of the last 10 days and is up by 13.75% 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, 10 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $130.17 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 $8.90 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 32.45% during the next 3 months and, with a 90% probability hold a price between $9.68 and $11.79 at the end of this 3-month period.
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YMM Signals & Forecast
Mostly positive signals in the chart today. The Full Truck Alliance Co. Ltd. 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 $8.14 and $7.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.01%. 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.
Support, Risk & Stop-loss for Full Truck Alliance Co. Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.81 and $7.69. 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, Full Truck Alliance Co. Ltd. finds support just below today's level at $7.81. If this is broken, then the next support from accumulated volume will be at $7.69 and $7.35.
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 $0.420 between high and low, or 4.98%. For the last week, the stock has had daily average volatility of 4.24%.
The Full Truck Alliance Co. Ltd. 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. Since the Full Truck Alliance Co. Ltd. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $8.46 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (YMM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Full Truck Alliance Co. Ltd. to open at $8.68, and during the day (based on 14 day Average True Range), to move between $8.49 and $9.05, which gives a possible trading interval of +/-$0.282 (+/-3.22%) up or down from last closing price. If Full Truck Alliance Co. Ltd. takes out the full calculated possible swing range there will be an estimated 6.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $7.81, some $0.96 (10.95%) from the current price of $8.77, our system finds the risk reward attractive.
Is Full Truck Alliance Co. Ltd. stock A Buy?
Full Truck Alliance Co. Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.522 Strong Buy Candidate Upgraded
Predicted Opening Price for Full Truck Alliance Co. Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $8.68 ( 0.99%) | $8.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YMM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.10 | 3.80 % | |
| R2 | 8.94 | 1.97 % | ||
| R1 | 8.84 | 0.84 % | ||
| Current price: | 8.77 | |||
| Support | S1 | 8.52 | -2.82 % | |
| S2 | 8.42 | -3.95 % | ||
| S3 | 8.26 | -5.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.77 | |||
| Support | S1 | 7.81 | -10.95% | |
| S2 | 7.69 | -12.31% | ||
| S3 | 7.35 | -16.19% |
YMM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Apr 04, 2024 | Apr 19, 2024 | $0.140 | 1.80% |
FAQ
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