Alcon Inc. Stock Forecast
Weaker technical forecast for Alcon Inc. as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Alcon Inc. stock price fell by -1.47% on the last day (Wednesday, 24th Apr 2024) from $80.76 to $79.57. During the last trading day the stock fluctuated 0.98% from a day low at $79.50 to a day high of $80.28. The price has fallen in 6 of the last 10 days and is down by -3.19% for this period. 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 -87 thousand shares and in total, 854 thousand shares were bought and sold for approximately $67.93 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $78.87 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.32% during the next 3 months and, with a 90% probability hold a price between $84.65 and $97.95 at the end of this 3-month period.
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ALC Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.40%. 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 Alcon Inc. 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 $79.65 and $83.28. 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 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 Alcon Inc. stock
Alcon Inc. finds support from accumulated volume at $79.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.780 (0.98%) between high and low. For the last week, the stock has had daily average volatility of 1.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Alcon Inc. to open at $79.78, and during the day (based on 14 day Average True Range), to move between $78.33 and $80.81, which gives a possible trading interval of +/-$1.24 (+/-1.55%) up or down from last closing price. If Alcon Inc. takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $79.00 (0.72%) than the resistance at $85.69 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alcon Inc. stock A Buy?
The Alcon Inc. stock holds several negative signals and despite the positive trend, we believe Alcon Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.404 Sell Candidate Downgraded
Predicted Opening Price for Alcon Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $79.78 ( 0.268%) | $79.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.56 | 1.25 % | |
| R2 | 80.27 | 0.87 % | ||
| R1 | 80.08 | 0.643 % | ||
| Current price: | 79.57 | |||
| Support | S1 | 79.49 | -0.106 % | |
| S2 | 79.30 | -0.338 % | ||
| S3 | 79.00 | -0.712 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 87.33 | 9.75 % | |
| R2 | 85.92 | 7.98 % | ||
| R1 | 85.69 | 7.69 % | ||
| Current price | 79.57 | |||
| Support | S1 | 79.00 | -0.716% | |
| S2 | 76.08 | -4.39% | ||
| S3 | 76.00 | -4.49% |
ALC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 16, 2024 | $0.265 | 0.333% |
| 2 | May 10, 2024 | May 10, 2024 | May 10, 2024 | $0 | 0% |
| 3 | Mar 02, 2023 | May 10, 2023 | May 12, 2023 | $0.236 | 0.297% |
| 4 | Apr 23, 2022 | May 03, 2022 | May 03, 2022 | $0.205 | 0.289% |
| 5 | May 03, 2021 | May 04, 2021 | May 06, 2021 | $0.110 | 0.158% |
FAQ
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