ALLETE INC (ALE) Stock Technical Analysis
USA - NYSE:ALE - US0185223007 - Common Stock
67.31 USD
0 (0%)
67.31 USD
0 (0%)
Taking everything into account, ALE scores 8 out of 10 in our technical rating. 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 one of the lesser performing stocks in the Electric Utilities industry. 63% of 47 stocks in the same industry do better.
The long and short term trends are both positive. This is looking good!
ALE 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.
ALE is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
When compared to the yearly performance of all other stocks, ALE outperforms 55% of them, which is more or less in line with the market.
In the last month ALE has a been trading in a tight range between 63.72 and 67.49.
ALE has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 67.32. Right above this resistance zone may be a good entry point. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
61.42
68.04
When analyzing the support we can see 2 important areas.
- A support zone ranging from 65.17 to 66.52. 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 64.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 67.32 to 67.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | 55.08 | 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) | 74.45 | OVERBOUGHT | The high RSI value suggests ALE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests ALE has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 89.49 | OVERBOUGHT | The high Stochastics value suggests ALE may be overbought. |
| Average True Range in percent/ATR (20) | 0.51 | LOW VOLATILITY | The low ATR as a percentage value for ALE suggests low volalility. |
| Average Directional Index/ADX (14) | 44.52 | POSITIVE | The high ADX value value for ALE suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 67.38 | 67.22 | 0.16 (0.24%) | 25.00% |
| An entry @67.38. This is a Buy Stop order right above the resistance zone. | An exit @67.22. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.16 points, which is 0.24%. | For a 0.06% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of ALE. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
67.31
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryElectric Utilities
Performance
% Chg0%
1 Week0.01%
2 Weeks0.15%
1 Month5.17%
3 Month2.53%
6 Month3.95%
12 Month4.55%
2 Year25.72%
3 Year19.62%
5 Year30.5%
10 Year34.06%
15 Year85.02%
Volatility
ATR(14)0.21
ATR(20)%0.51%
ATR Inc-23.74%
Range Today0.2
ADR(20)0.31
ADR(20)%0.47%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS55.08
Mansfield-0.67
10 Day High67.49
10 Day Low67.23
20 Day High67.49
20 Day Low63.72
52 Week High67.49
52 Week Low62.38
CS1 End66.52
CR1 Start67.32
Volume & EV
DER(3)2.2%
DER(5)1.15%
Volume430.10K
Volume Incr-39.93%
Vol(5)546.56K
Vol(50)702.65K