Allete Inc (ALE) Technical Analysis
NYSE:ALE • US0185223007
Current stock price
ALE Technical Rating and Analysis
We assign a technical rating of 7 out of 10 to ALE. Although ALE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- ALE is part of the Electric Utilities industry. There are 46 other stocks in this industry, of which 64% are performing better than ALE.
- Both the short term and long term trends are positive. This is a very positive sign.
- A new 52 week high is currently being made by ALE, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so ALE is leading the market.
- When comparing the performance of all stocks over the past year, ALE turns out to be only a medium performer in the overall market: it outperformed 61% of all stocks.
- In the last month ALE has a been trading in a tight range between 67.35 and 67.99.
- Volume is considerably higher in the last couple of days.
ALE Weekly and Daily overview Charts
ALE Setup Rating and Analysis
Although ALE has an excellent technical rating, the quality of the presented setup is not ideal 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.
More info and screens
ALE Support and Resistance Analysis
61.42
We found 2 important support areas.
- A support zone ranging from 67.04 to 67.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 62.04 to 65.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 67.91 to 67.94. This zone is formed by a combination of multiple trend lines in multiple time frames.
ALE 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 ALE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALE is up. |
| ChartMill Relative Strength | 61.41 | NEUTRAL | ALE is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ALE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ALE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ALE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.89 | NEUTRAL | The RSI value for ALE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests ALE has a positive trend. |
| Stochastics (14,3) | 84.32 | OVERBOUGHT | The high Stochastics value suggests ALE may be overbought. |
| Average True Range in percent/ATR (20) | 0.21 | LOW VOLATILITY | The low ATR as a percentage value for ALE suggests low volalility. |
| Average Directional Index/ADX (14) | 41.44 | POSITIVE | The high ADX value value for ALE suggests a strong trend. |
ALE Chart- and CandleStick Pattern Analysis
ALE Technicals: Chart, Performance Metrics, Trend & Indicators
67.9
-0.04 (-0.06%)
Allete Inc / ALE TA FAQ
What is the technical rating for ALE stock?
ChartMill assigns a technical rating of 7 / 10 to ALE.
Can you provide the trend direction for Allete Inc?
The current trend direction for Allete Inc (ALE) is Bullish.
What is the RSI signal for ALE stock?
Allete Inc (ALE) has an RSI value of 66.8929. This indicates that the stock is currently neutral.
What is the MACD signal for Allete Inc (ALE) stock?
The MACD indicator for Allete Inc (ALE) has a value of 0.00735256, indicating a bearish trend.
Can you provide the support and resistance levels for Allete Inc?
Allete Inc (ALE) has a support level at 67.82 and a resistance level at 67.91. Check the full technical report for our detailed analysis of ALE support and resistance levels.