Alliance Resource Stock Forecast

Stronger technical forecast for Alliance Resource stock price after Thursday trading.
(Updated on Apr 25, 2024)

ARLP Signals & Forecast

The Alliance Resource stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $21.19 and $20.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 16.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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). The stock had a Golden Star Signal on Friday, March 15, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Alliance Resource stock

Alliance Resource finds support from accumulated volume at $21.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.500 between high and low, or 2.37%. For the last week the stock has had daily average volatility of 1.19%.

Our recommended stop-loss: $20.74 (-3.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)

Trading Expectations (ARLP) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Alliance Resource Partners to open at $21.40, and during the day (based on 14 day Average True Range), to move between $21.18 and $21.82, which gives a possible trading interval of +/-$0.320 (+/-1.49%) up or down from last closing price. If Alliance Resource Partners takes out the full calculated possible swing range there will be an estimated 2.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $21.24 (1.21%) than the resistance at $21.77 (1.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alliance Resource Partners stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Alliance Resource stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.717 Buy Candidate Upgraded

Predicted Opening Price for Alliance Resource Partners of Friday, April 26, 2024

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