Albertsons Stock Could Shatter Technical Ceiling

ACI could surge to its highest trading level since May

Digital Content Manager

Feb 22, 2023 at 4:27 PM

Albertsons Companies Inc (NYSE:ACI) was last seen trading near breakeven at $21.47, much like the broader market ahead of the release of the Federal Reserve's meeting minutes. A ceiling at the $21.60 has capped the equity since November, but that level may soon be overcome thanks to a historically bullish trendline that may also help shares add to their 5% nine-month lead.

Digging deeper, ACI is within one standard deviation of its 40-day moving average. Per Schaeffer's Senior Quantitative Analyst Rocky White's latest study, the security saw five similar signals over the last three years, and was higher one month later 80% of the time to average a 12.2% gain. A comparable move from its current perch would place shares over $124 -- well above that ceiling and at their highest level since May.

ACI 40 Day

A shift in analyst sentiment could keep the tailwinds blowing for Albertsons stock. Of the 13 in coverage, nine firms still call the equity a tepid "hold," leaving ample room for upgrades going forward.

Follow @Schaeffers

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released!