ALC Technical Analysis - ALGOMA CENTRAL CORP

Technical Rating and Analysis

We assign a technical rating of 7 out of 10 to ALC. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ALC is only an average performer.

Warning: ALC has an average volume of 9673 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

Both the short term and long term trends are positive. This is a very positive sign.

ALC is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month ALC has a been trading in the 16.31 - 17.58 range, which is quite wide. It is currently trading near the high of this range.

When compared to the yearly performance of all other stocks, ALC outperforms 54% of them, which is more or less in line with the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ALGOMA CENTRAL CORP / ALC Weekly stock chart

ALGOMA CENTRAL CORP / ALC Daily stock chart

Setup Rating and Analysis

Although ALC has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

13.98

17.88

We found 5 important support areas.

Support @17.45 from a horizontal line in the daily time frame.
A support zone ranging from 16.41 to 17.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 15.70 to 16.06. This zone is formed by a combination of multiple trend lines in the daily time frame.
Support @14.86 from a trend line in the weekly time frame.
Support @14.12 from a horizontal line in the weekly time frame.

We found 1 important resistance area.

A resistance zone ranging from 17.59 to 17.70. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for ALC.CA is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ALC.CA is up.
ChartMill Relative Strength	54.52	NEUTRAL	ALC.CA is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ALC.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ALC.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ALC.CA is above the rising SMA(200).
Relative Strength Index/RSI (14)	63.68	NEUTRAL	The RSI value for ALC.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.1	POSITIVE	The MACD value suggests ALC.CA has a positive trend.
Stochastics (14,3)	90.75	OVERBOUGHT	The high Stochastics value suggests ALC.CA may be overbought.
Average True Range in percent/ATR (20)	1.78	LOW VOLATILITY	The low ATR as a percentage value for ALC.CA suggests low volalility.
Average Directional Index/ADX (14)	21.41	NEUTRAL	The ADX value for ALC.CA suggests a possible start of a new trend.