Altera Corporation (ALTR), a leading provider of programmable logic solutions, is currently outperforming the market with its successful Sector Rotation Strategy, backed by Technical Analysis (TA) and Fundamental Analysis (FA). The approach has generated a substantial return of 9.12%, displaying the effectiveness of this dynamic trading strategy.
Sector rotation involves strategically shifting investments among various business sectors to capitalize on the evolving economic cycles. In ALTR's case, this strategy is underpinned by robust TA and FA, providing valuable insights into market trends and company fundamentals, and aiding in decision-making.
On June 27, 2023, ALTR exhibited a promising shift from a downward trend to an upward trend. This transition was marked by the company's stock price moving above its 50-day moving average, a widely used indicator in TA to identify the direction of a stock's price trend.
Historically, such a move has often indicated further growth. In 42 of 50 similar past instances, ALTR's stock price increased further within the following month. Statistically speaking, this implies an 84% probability of a continued upward trend.
In light of these developments, investors and traders may want to keep a close watch on ALTR. The combination of its Sector Rotation Strategy (TA&FA) and the current upward trend could potentially unlock more profitable opportunities in the foreseeable future.
ALTR's strong performance underlines the power of a well-executed Sector Rotation Strategy backed by solid TA and FA. As it continues to outperform expectations, it serves as a shining testament to the power of strategic trading and investment.
The RSI Oscillator for ALTR moved out of oversold territory on August 23, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 22 similar instances when the indicator left oversold territory. In of the 22 cases the stock moved higher. This puts the odds of a move higher at .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 56 cases where ALTR's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ALTR just turned positive on August 23, 2023. Looking at past instances where ALTR's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ALTR advanced for three days, in of 330 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved below the 0 level on September 12, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on ALTR as a result. In of 89 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ALTR declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
ALTR broke above its upper Bollinger Band on August 29, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for ALTR entered a downward trend on August 29, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. ALTR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.569) is normal, around the industry mean (21.163). P/E Ratio (0.000) is within average values for comparable stocks, (153.831). Projected Growth (PEG Ratio) (4.620) is also within normal values, averaging (2.682). Dividend Yield (0.000) settles around the average of (0.088) among similar stocks. P/S Ratio (8.905) is also within normal values, averaging (74.636).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of software solutions for product design and development applications
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A.I.dvisor indicates that over the last year, ALTR has been closely correlated with ANSS. These tickers have moved in lockstep 66% of the time. This A.I.-generated data suggests there is a high statistical probability that if ALTR jumps, then ANSS could also see price increases.