Alliance Resource Partners Forecast and Stock Analysis
Technical ARLP stock analysis for February 15, 2019.
Alliance Resource Partners gained 0.47% in the last trading day, rising from $19.14 to $19.23 The price has risen in 6 of the last 10 days , but is still down by -2.24% for this period. Volume fell in the last day by -246 547 shares, and in total, 222 635 shares bought and sold for approximately $4.28 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ARLP stock was $19.23. This is 0.47% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.10% from a day low at $19.17 to a day high of $19.38.
30 day high of the ARLP stock price was $20.07 and low was $17.60.
90 day high was $20.07 and low was $16.50.
52 week high for the Alliance Resource Partners - $20.99 and low - $15.55.
Given the current horizontal trend you can expect Alliance Resource Partners with 90% probability to be traded between $16.75 and $19.57 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.
Only positive signals in the chart today. Alliance Resource Partners 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 $19.03 and $18.68. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 07, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 46 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $17.68 and $17.55.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Alliance Resource Partners finds support just below today's level at $17.68. If this is broken, then the next support from accumulated volume will be at $17.55 and $17.28.
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 $0.21 (1.10%) between high and low. For the last week, the stock has had a daily average volatility of 1.95%.
Our recommended stoploss: $18.23 (-5.18%) (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: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.