ALG Technical Analysis - ALAMO GROUP INC

Technical Rating and Analysis

Overall ALG gets a technical rating of 0 out of 10. ALG's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

When comparing the yearly performance of all stocks, ALG is a bad performer in the overall market: 76% of all stocks are doing better.

In the last month ALG has a been trading in the 186.53 - 212.84 range, which is quite wide. It is currently trading near the lows of this range.

ALG is an average performer in the Machinery industry, it outperforms 43% of 129 stocks in the same industry.

ALG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ALG is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ALAMO GROUP INC / ALG Weekly stock chart

Setup Rating and Analysis

ALG has a poor technical rating and the quality of the setup is also not perfect 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

164.06

230.61

When analyzing the support we can see 2 important areas.

A support zone ranging from 189.14 to 189.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 165.72 to 165.80. This zone is formed by a combination of multiple trend lines in the weekly time frame.

2 important resistance areas can be observed.

A resistance zone ranging from 211.78 to 212.17. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 226.73 to 228.33. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	DOWN	NEGATIVE	The long term trend for ALG is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for ALG is down.
ChartMill Relative Strength	24.89	NEGATIVE	ALG has a low relative strength, it was outperformed by 75.11% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of ALG is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ALG is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ALG is below a declining SMA(200).
Relative Strength Index/RSI (14)	27.92	OVERSOLD	The low RSI value suggests ALG may be oversold.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.88	NEGATIVE	The MACD value suggests ALG has a negative trend, although the MACD value is rising.
Stochastics (14,3)	7.68	OVERSOLD	The low Stochastics value suggests ALG may be oversold.
Average True Range in percent/ATR (20)	2.42	MEDIUM VOLATILITY	The ATR as a percentage value for ALG suggests some volalility.
Average Directional Index/ADX (14)	28.6	POSITIVE	The high ADX value value for ALG suggests a strong trend.