Alcon, Inc. (ALC): Puzzling Price Reaction

The stock of Alcon, Inc. (NYSE:ALC) has been Reiterated to Neutral by BofA/Merrill in its latest research note that was published on August 21. ALC has given a price target of $65 by BofA/Merrill, with other Wall Street analysts also giving their reports regarding the stock. SVB Leerink, analysts launched coverage of ALC stock with a Mkt Perform rating, according to their flash note to investors on June 24.

Alcon, Inc., which has current market capitalization of above $29 Billion, published its last quarter earnings on June 30, 2019.

ALC surged by $0.21 during the normal trading session on Wednesday and reaching a high of $60.40 during the day while it closed the day at $59.75. The Alcon, stock had a low trading volume of 1.94 million shares on that day, which is low compared to the average daily volume of 994.95M shares. ALC has also lost 1.37% of its value over the past 7 days. However, the stock has surged by 0.71% in the 3 months of the year. Over the past six months meanwhile, it has lost 0.00% while it has added 2.95% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -5.08% from its 3 months high price. However, taking another look at ALC will indicate that it is trading +3.64% away from its 90-day low. Looking at the bigger picture, the Alcon, Inc. stock has dropped by -6.25% from its 52-week high while it has surged by +11.1% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 37.62%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 36.56%. Over the past 20 days, Alcon,’s Stochastic %K stood at 31.35% while its Stochastic %D was revealed to be 30.81%.