ALECTOR INC (ALEC) Stock Technical Analysis
NASDAQ:ALEC • US0144421072
We assign a technical rating of 8 out of 10 to ALEC. ALEC has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- Both the short term and long term trends are positive. This is a very positive sign.
- ALEC is part of the Biotechnology industry. There are 521 other stocks in this industry. ALEC outperforms 77% of them.
- In the last month ALEC has a been trading in the 1.75 - 2.23 range, which is quite wide. It is currently trading near the high of this range.
- ALEC has an average volume of 1064410 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that ALEC is one of the better performing stocks in the market, outperforming 91% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
- ALEC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ALEC is lagging the market.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although ALEC 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
1.32
When analyzing the support we can see 2 important areas.
- A support zone ranging from 1.96 to 1.99. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @1.33 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @2.25 from a trend line in the weekly time frame.
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 ALEC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALEC is up. |
| ChartMill Relative Strength | 91.41 | POSITIVE | ALEC has a high relative strength, it outperformed 91.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ALEC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ALEC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ALEC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.48 | OVERBOUGHT | The high RSI value suggests ALEC may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests ALEC has a positive trend. |
| Stochastics (14,3) | 89.22 | OVERBOUGHT | The high Stochastics value suggests ALEC may be overbought. |
| Average True Range in percent/ATR (20) | 5.7 | HIGH VOLATILITY | The high ATR as a percentage value for ALEC suggests high volalility. |
| Average Directional Index/ADX (14) | 30.83 | POSITIVE | The high ADX value value for ALEC suggests a strong trend. |
2.19
+0.09 (+4.29%)
ALECTOR INC / ALEC FAQ
What is the ChartMill technical rating of ALECTOR INC (ALEC) stock?
ChartMill assigns a technical rating of 8 / 10 to ALEC.
What is the current trend direction of ALECTOR INC (ALEC) stock?
The current trend direction for ALECTOR INC (ALEC) is Bullish.
Can you provide the RSI signal for ALECTOR INC?
ALECTOR INC (ALEC) has an RSI value of 71.4785. This indicates that the stock is currently overbought.
Can you provide the short term momentum for ALECTOR INC?
The short term momentum for ALECTOR INC (ALEC) is positive.
What is the buy/sell signal for ALECTOR INC (ALEC) stock?
The buy/sell signal for ALECTOR INC (ALEC) is buy as both the short term and long term trends are positive.