Alpha Growth Plc Stock Forecast

Volatile ride for Alpha Growth Plc stock price on Wednesday moving between £1.18 and £1.35
(Updated on Apr 24, 2024)

ALGW.L Signals & Forecast

The Alpha Growth Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £1.17 and £1.20. 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 13.16%. Further rise is indicated until a new top pivot has been found. Alpha Growth Plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Alpha Growth Plc stock

Alpha Growth Plc finds support from accumulated volume at £1.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 £0.170 between high and low, or 14.47%. For the last week, the stock has had daily average volatility of 4.12%.

Our recommended stop-loss: £1.20 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (ALGW.L) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Alpha Growth Plc to open at £1.26, and during the day (based on 14 day Average True Range), to move between £1.17 and £1.33, which gives a possible trading interval of +/-£0.0833 (+/-6.66%) up or down from last closing price. If Alpha Growth Plc takes out the full calculated possible swing range there will be an estimated 13.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £1.28 (2.72%) than the support at £1.20 (3.84%), 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 Alpha Growth Plc stock A Buy?

Alpha Growth Plc 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Alpha Growth Plc of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.