ALGEN Technical Analysis - GENOWAY SA

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to ALGEN. ALGEN scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.

93% of all other stocks performed better in the past year than ALGEN.

ALGEN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month ALGEN has a been trading in the 2.73 - 3.20 range, which is quite wide. It is currently trading near the lows of this range.

Warning: ALGEN has an average volume of 3833 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

ALGEN is part of the Biotechnology industry. There are 73 other stocks in this industry, ALGEN did better than 43% of them.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, ALGEN does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.75

3.49

When analyzing the support we notice one important area.

Support @2.78 from a horizontal line in the daily time frame.

We can see 4 important resistance areas.

A resistance zone ranging from 2.97 to 2.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 3.09 to 3.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 3.19 to 3.20. This zone is formed by a combination of multiple trend lines in the daily time frame.
Strong resistance @3.46 from a horizontal line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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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 ALGEN.PA is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ALGEN.PA is neutral.
ChartMill Relative Strength	7.44	NEGATIVE	ALGEN.PA has a low relative strength, it was outperformed by 92.56% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of ALGEN.PA is below the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ALGEN.PA is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of ALGEN.PA is below a declining SMA(200).
Relative Strength Index/RSI (14)	45.93	NEUTRAL	The RSI value for ALGEN.PA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	POSITIVE	The MACD value suggests ALGEN.PA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	39.01	NEUTRAL	The Stochastics value for ALGEN.PA is a neutral value.
Average True Range in percent/ATR (20)	3.63	MEDIUM VOLATILITY	The ATR as a percentage value for ALGEN.PA suggests some volalility.
Average Directional Index/ADX (14)	30.81	POSITIVE	The high ADX value value for ALGEN.PA suggests a strong trend.