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. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ALE is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- ALE is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with 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.
- ALE is an average performer in the Electric Utilities industry, it outperforms 58% of 47 stocks in the same industry.
- 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
ALE has an excellent technical rating, but the quality of the setup is only medium 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
When analyzing the support we can see 2 important 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 Allete Inc (ALE) stock?
Allete Inc (ALE) has an RSI value of 66.8929. This indicates that the stock is currently neutral.
What is the buy/sell signal for ALE stock?
The buy/sell signal for Allete Inc (ALE) is buy as both the short term and long term trends are positive.
What is the support and resistance level for ALE stock?
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.