ALLETE INC (ALE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ALE - US0185223007 - Common Stock
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.
ALE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 67.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 67.53, a Stop Loss order could be placed below this zone.
More info and screens
61.42
We found 3 important support areas.
- A support zone ranging from 66.90 to 67.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Strong support @65.39 from a horizontal line in the daily time frame.
- A support zone ranging from 62.04 to 64.26. 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 67.62 to 68.24. This zone is formed by a combination of multiple trend lines 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 | 65.34 | 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) | 62.88 | NEUTRAL | The RSI value for ALE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests ALE has a negative trend. |
| Stochastics (14,3) | 85.21 | OVERBOUGHT | The high Stochastics value suggests ALE may be overbought. |
| Average True Range in percent/ATR (20) | 0.18 | LOW VOLATILITY | The low ATR as a percentage value for ALE suggests low volalility. |
| Average Directional Index/ADX (14) | 41.69 | POSITIVE | The high ADX value value for ALE suggests a strong trend. |
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 |
|---|---|---|---|
| 67.68 | 67.37 | 0.31 (0.46%) | 25.00% |
| An entry @67.68. This is a Buy Stop order right above the 10 day high. | An exit @67.37. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.31 points, which is 0.46%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.11%. |
- 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.
67.58
-0.05 (-0.07%)
ALLETE INC / ALE FAQ
What is the technical rating for ALE stock?
ChartMill assigns a technical rating of 7 / 10 to ALE.
What is the trend direction for ALE stock?
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 62.8833. This indicates that the stock is currently neutral.
What is the buy/sell signal for ALLETE INC (ALE) stock?
The buy/sell signal for ALLETE INC (ALE) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for ALLETE INC (ALE) stock?
ALLETE INC (ALE) has a support level at 67.53 and a resistance level at 67.62. Check the full technical report for our detailed analysis of ALE support and resistance levels.