Alpha Growth Plc Forecast and Stock Analysis
Technical ALGW.L stock analysis for Wednesday May 22, 2019.
Alpha Growth Plc fell by -5.71% in the last day ( Wednesday, 22nd May 2019 ) from £1.75 to £1.65 During day the stock fluctuated 6.06% from a day low at £1.65 to a day high of £1.75. The price has fallen in 7 of the last 10 days and is down by -17.5% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -2 685 028 shares and in total 465 976 shares bought and sold for approximately £768 860.00.
- 30 day high of the ALGW.L stock price was £2.30 and low was £1.40.
- 90 day high was £2.30 and low was £1.20.
- 52 week high for the Alpha Growth Plc - £5.38 and low - £1.08.
Given the current horizontal trend you can expect Alpha Growth Plc with 90% probability to be traded between £1.23 and £2.09 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Alpha Growth Plc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately £1.71. On a fall, the stock will find some support from the long-term average at approximately £1.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday May 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 48 and the stock is currently not being overbought or oversold
Support & Resistance
Alpha Growth Plc finds support from accumulated volume at £1.60.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.10 between high and low, or 6.06%. For the last week the stock has had a daily average volatility of 6.20%.
Our recommended stoploss: £1.53 (-7.03%) (This stock has high daily movements and this gives high risk. There is a sell signal from pivot top found 1 days ago.)
6.20 %Average volatility
Very Low Low Medium High Very High
Alpha Growth Plc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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