AllianceBernstein Holding (AB) is scheduled to report its first-quarter results after the close of trading here on Wednesday. The stock price of the investment management firm looks like it could pivot up or down from here, so let's check the charts and indicators for clues.
In this daily bar chart of AB, below, I can see that prices have been in a downtrend from August. Prices have failed at or around the 200-day moving average line a number of times in the past few months. AB is also trading below the declining 50-day moving average line. Standing back a bit from the chart I can also see higher lows from October. The trading volume has been stronger since December. The On-Balance-Volume (OBV) line made a low in late December and shows very modest improvement. The Moving Average Convergence Divergence (MACD) oscillator has made higher lows since October and is now just slightly below the zero line.
In this weekly Japanese candlestick chart of AB, below, I can see a bottom reversal pattern in March. Prices have been finding buying interest (support) below $35. The weekly OBV line has been holding its December low. The MACD oscillator is below the zero line but close to a cover shorts buy signal.
In this daily Point and Figure chart of AB, below, I can see a potential downside price target of $33. A trade at $37.11 would improve the picture.
In this weekly Point and Figure chart of AB, below, I can see a potential upside price target in the $42 area.
Bottom line strategy: I don't know what AB will tell shareholders and analysts this evening. The charts could turn up or down from here, but I favor the upside. Traders could probe the long side above $37.11.
