ALIT Price Prediction Next Week
Technical Analysis:
Based on recent price action, ALIT shows a clear downtrend pattern with significant support around $8.85-8.90 level.
The stock has experienced increased selling pressure, with the price dropping from $9.51 on February 16th to current $9.05 level. The daily trading volume has also increased significantly, particularly on February 21st with over 33.5M shares traded, indicating strong market participation.
Price Targets for Next Week:
- Resistance levels: $9.29 (recent high), $9.50 (psychological level)
- Support levels: $8.85 (immediate support), $8.70 (secondary support)
News Analysis:
- Recent bullish cross above critical moving average suggests potential technical strength
- High call volume relative to puts among S&P 500 components indicates positive sentiment from options traders
Price Prediction: Based on technical indicators and recent price action, ALIT is likely to test the $8.85 support level next week. If this level holds, expect a bounce back to $9.20-9.30 range. However, if support breaks, next target would be $8.70.
Trading Recommendation: SELL with target entry at current market price ($9.05)
- First target: $8.85 (-2.2%)
- Second target: $8.70 (-3.9%)
- Stop loss: $9.35 (+3.3%)
The recommendation is based on:
- Clear downtrend pattern
- Increased selling volume
- Weakening momentum indicators
- Proximity to resistance levels
The ideal scenario would be to wait for any potential bounce to $9.20-9.30 range before initiating short positions.
ALIT Similar Chart Price Prediction
The price of ALIT is predicted to go up 6.46%, based on the high correlation periods with WINA. The similarity of these two price pattern on the periods is 92.88%.
ALIT
WINA
Up: 6.46%Similarity: 92.88%
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ALIT Analyst's Forecast
Kyle Peterson
Needham
Strong Buy
2025-01-09
Price Target
$11 → $9
Upside
+37.61%
Needham lowered the firm's price target on Alight to $9 from $11 and keeps a Buy rating on the shares. The upcoming change in administration could have a modest negative impact to Alight depending on the magnitude of cuts that the "Department of Government Efficiency" is able to push through, says the analyst, who is "modestly reducing" estimates with about 1% cuts to both revenue and EBITDA forecasts for FY25. However, the analyst contends that the recent stock underperformance with shares down about 12% since the election "outstrips the current fundamental risk."
Scott Schoenhaus
Keybanc
Buy
2024-11-13
Price Target
$10 → $11
Upside
+30.56%
Joseph Vafi
Canaccord Genuity
Strong Buy
2024-11-13
Price Target
$11 → $12
Upside
+42.43%
