ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
NASDAQ:ALGM • US01749D1054
We assign a technical rating of 9 out of 10 to ALGM. Both in the recent history as in the last year, ALGM has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Both the short term and long term trends are positive. This is a very positive sign.
- ALGM is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 74% of 113 stocks in the same industry.
- ALGM 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.
- In the last month ALGM has a been trading in the 31.86 - 43.86 range, which is quite wide. It is currently trading near the high of this range.
- ALGM has an average volume of 2521870 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 ALGM is one of the better performing stocks in the market, outperforming 94% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Although ALGM has an excellent technical rating, it does not present a decent entry opportunity 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
26.15
We found 3 important support areas.
- A support zone ranging from 37.35 to 37.84. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @30.36 from a trend line in the daily time frame.
- Support @26.41 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 ALGM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALGM is up. |
| ChartMill Relative Strength | 94.83 | POSITIVE | ALGM has a high relative strength, it outperformed 94.83% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ALGM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ALGM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ALGM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 73.59 | OVERBOUGHT | The high RSI value suggests ALGM may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.34 | POSITIVE | The MACD value suggests ALGM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 89.42 | OVERBOUGHT | The high Stochastics value suggests ALGM may be overbought. |
| Average True Range in percent/ATR (20) | 4.83 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 56.47 | POSITIVE | The high ADX value value for ALGM suggests a strong trend. |
42.38
+0.55 (+1.31%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 9 / 10 to ALGM.
What is the trend direction for ALGM stock?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bullish.
What is the RSI signal for ALGM stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 73.5854. This indicates that the stock is currently overbought.
Can you provide the short term momentum for ALLEGRO MICROSYSTEMS INC?
The short term momentum for ALLEGRO MICROSYSTEMS INC (ALGM) is positive.
Can you provide the support and resistance levels for ALLEGRO MICROSYSTEMS INC?
ALLEGRO MICROSYSTEMS INC (ALGM) has a support level at 37.84. Check the full technical report for our detailed analysis of ALGM support and resistance levels.