Alliance Resource Stock Forecast
Alliance Resource stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Alliance Resource stock price gained 0.474% on the last trading day (Monday, 22nd Apr 2024), rising from $21.10 to $21.20. During the last trading day the stock fluctuated 0.98% from a day low at $21.00 to a day high of $21.21. The price has risen in 6 of the last 10 days and is up by 0.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 56 thousand more shares were traded than the day before. In total, 282 thousand shares were bought and sold for approximately $5.98 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Alliance Resource stock with a 90% probability to be traded between $18.61 and $22.48 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 $21.06 and $20.23. 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 15.22%. 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.
Golden Star
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 $20.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.205 (0.98%) between high and low. For the last week, the stock has had daily average volatility of 1.36%.
Our recommended stop-loss: $20.47 (-3.42%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (ARLP) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Alliance Resource Partners to open at $21.14, and during the day (based on 14 day Average True Range), to move between $20.88 and $21.52, which gives a possible trading interval of +/-$0.323 (+/-1.52%) up or down from last closing price. If Alliance Resource Partners takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.24 (0.19%) than the support at $20.57 (2.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Alliance Resource will release earnings BMO on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.01. We will update the financials statements for Alliance Resource, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.93% in the first trading day after earnings release.
Is Alliance Resource Partners stock A Buy?
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 Alliance Resource stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.445 Buy Candidate Upgraded
Predicted Opening Price for Alliance Resource Partners of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$21.14 ( 0.307%) | $21.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARLP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.34 | 0.660 % | |
R2 | 21.26 | 0.291 % | ||
R1 | 21.21 | 0.0628 % | ||
Current price: | 21.20 | |||
Support | S1 | 21.06 | -0.676 % | |
S2 | 21.01 | -0.90 % | ||
S3 | 20.93 | -1.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.77 | 2.69 % | |
R2 | 21.28 | 0.377 % | ||
R1 | 21.24 | 0.189 % | ||
Current price | 21.20 | |||
Support | S1 | 20.57 | -2.97% | |
S2 | 19.84 | -6.42% | ||
S3 | 19.75 | -6.84% |
ARLP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 26, 2024 | Feb 07, 2024 | Feb 14, 2024 | $0.700 | 3.54% |
2 | Jan 26, 2024 | Feb 06, 2024 | Feb 14, 2024 | $0.700 | 3.54% |
3 | Oct 25, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.700 | 3.13% |
4 | Jul 28, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.700 | 3.51% |
5 | Apr 28, 2023 | May 05, 2023 | May 15, 2023 | $0.700 | 3.65% |
FAQ
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