ALTRI SGPS SA (ALTR.LS)       4.872  +0.1 (+2.01%)

4.872  +0.1 (+2.01%)

PTALT0AE0002 - Common Stock

Technical Rating

1

We assign a technical rating of 1 out of 10 to ALTR. ALTR scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.



In the last month ALTR has a been trading in the 4.46 - 4.99 range, which is quite wide. It is currently trading near the high of this range.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, ALTR is a bad performer in the overall market: 81% of all stocks are doing better.
ALTR is part of the Paper & Forest Products industry. There are 5 other stocks in this industry, of which 80% are performing better than ALTR.
ALTR is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

Statistics

1 Month 3 Months 6 Months 12 Months 7.84% -3.52% 0.62% -18.60% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 19.5 4.462 - 6.895
ALTR Weekly chart
ALTR Daily chart

Support/Resistance Analysis


4.46

6.02
We found 2 important support areas.
  • A support zone ranging from 4.62 to 4.72. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A support zone ranging from 4.51 to 4.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 4 important areas.
  • A resistance zone ranging from 4.88 to 4.88. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @5.03 from a trend line in the weekly time frame.
  • Resistance @5.17 from a trend line in the daily time frame.
  • Resistance @5.96 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

7

Although the technical rating is bad, ALTR does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 4.88. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 4.72, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

ALTR Daily chart

ALTRI SGPS SA4.872

ELI:ALTR (3/24/2023, 7:00:00 PM)+0.1 (+2.01%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryPaper & Forest Products
Performance
Today2.01%
1 Week6.14%
2 Weeks3.92%
1 Month7.84%
3 Month-3.52%
6 Month0.62%
Volatility
ATR(14)0.15
ATR(20)%2.68%
ATR Inc159.2%
Range Today0.49
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS19.5
Mansfield-1.17
10 Day High4.99
10 Day Low4.46
20 Day High4.99
20 Day Low4.46
52 Week High6.9
52 Week Low4.46
CS1 End4.72
CR1 Start4.88
Volume & EV
DER(3)1.24%
DER(5)0.42%
Volume2.80M
Volume Incr77.35%
Vol(5)1.13M
Vol(50)865.92K

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