Allegion plc Stock Forecast
Allegion plc stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The Allegion plc stock price fell by -1.32% on the last day (Thursday, 25th Apr 2024) from $126.54 to $124.87. During the last trading day the stock fluctuated 3.75% from a day low at $123.16 to a day high of $127.77. The price has fallen in 7 of the last 10 days and is down by -3.76% for this period. Volume has increased on the last day by 78 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 922 thousand shares were bought and sold for approximately $115.16 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $124.90 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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ALLE Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.0240%. 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 Allegion plc 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 $125.66 and $130.54. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Allegion plc stock
Allegion plc finds support from accumulated volume at $124.84 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 $4.62 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALLE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Allegion plc to open at $125.27, and during the day (based on 14 day Average True Range), to move between $122.35 and $127.39, which gives a possible trading interval of +/-$2.52 (+/-2.02%) up or down from last closing price. If Allegion plc takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $124.84 (0.02%) than the resistance at $126.80 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Allegion plc stock A Buy?
Allegion plc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.626 Sell Candidate Downgraded
Predicted Opening Price for Allegion plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $125.27 ( 0.316%) | $124.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALLE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 129.88 | 4.01 % | |
| R2 | 128.12 | 2.60 % | ||
| R1 | 127.03 | 1.73 % | ||
| Current price: | 124.87 | |||
| Support | S1 | 123.50 | -1.10 % | |
| S2 | 122.41 | -1.97 % | ||
| S3 | 120.65 | -3.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.06 | 5.76 % | |
| R2 | 129.66 | 3.84 % | ||
| R1 | 126.80 | 1.55 % | ||
| Current price | 124.87 | |||
| Support | S1 | 124.84 | -0.0240% | |
| S2 | 123.89 | -0.785% | ||
| S3 | 0 | . |
ALLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.480 | 0.384% |
| 2 | Apr 11, 2024 | Jun 13, 2024 | Jun 28, 2024 | $0.480 | 0.384% |
| 3 | Feb 07, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.480 | 0.356% |
| 4 | Dec 07, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.450 | 0.355% |
| 5 | Sep 07, 2023 | Sep 18, 2023 | Sep 29, 2023 | $0.450 | 0.432% |
FAQ
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