Allstate Corporation (The) Forecast and Stock Analysis
Technical ALL stock analysis for March 15, 2019.
|Shorts||1.85% ( 2019-02-28 )|
Allstate Corporation (The) gained 1.05% in the last trading day, rising from $93.85 to $94.84 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has fallen in 6 of the last 10 days and is down by -0.18% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 2.58 million more shares were traded than the day before. In total, 4.43 million shares bought and sold for approximately $419.96 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the ALL stock was $94.84. This is 1.05% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 1.64% from a day low at $93.66 to a day high of $95.20.
30 day high of the ALL stock price was $95.50 and low was $92.24.
90 day high was $95.50 and low was $77.00.
52 week high for the Allstate Corporation (The) - $102.73 and low - $77.00.
Allstate Corporation (The) lies in the lower part of a strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $93.61 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.66% during the next 3 months and, with 90% probability hold a price between $113.89 and $121.79 at the end of this period.
Only positive signals in the chart today. Allstate Corporation (The) holds buy signals from both short- and long-term moving averages. In addition, 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 $93.85 and $92.44. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 07, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
Allstate Corporation (The) finds support from accumulated volume at $92.56.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.54 (1.64%) between high and low. For the last week, the stock has had a daily average volatility of 1.09%.
Our recommended stoploss: $89.55 (-5.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 6 days ago.)
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Evaluation: Strong Buy Candidate
Allstate Corporation (The) 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 recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.