ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
NASDAQ:ALGM - Nasdaq - US01749D1054 - Common Stock - Currency: USD
Overall ALGM gets a technical rating of 6 out of 10. ALGM has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
70% of all other stocks performed better in the past year than ALGM.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
ALGM is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
ALGM has an average volume of 3372370 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
ALGM is an average performer in the Semiconductors & Semiconductor Equipment industry, it outperforms 67% of 110 stocks in the same industry.
ALGM is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ALGM is lagging the market slightly.
ALGM has an average technical rating and the quality of the presented setup is also 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
20.46
28.59
We found 2 important support areas.
- A support zone ranging from 25.90 to 25.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @20.67 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 27.70 to 27.71. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 28.31 to 28.31. This zone is formed by a combination of multiple trend lines in the daily 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 | NEUTRAL | NEUTRAL | The long term trend for ALGM is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALGM is up. |
| ChartMill Relative Strength | 30.67 | NEUTRAL | ALGM is not amongst the best or worst performers 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) | 61.82 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.58 | POSITIVE | The MACD value suggests ALGM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 88.53 | OVERBOUGHT | The high Stochastics value suggests ALGM may be overbought. |
| Average True Range in percent/ATR (20) | 4.54 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 29.98 | POSITIVE | The high ADX value value for ALGM suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
25.91
-0.37 (-1.41%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySemiconductors & Semiconductor Equipment
Performance
% Chg-1.41%
1 Week-4.11%
2 Weeks22.97%
1 Month37.31%
3 Month-2.63%
6 Month21.59%
12 Month-15.35%
2 Year-34.12%
3 Year0.62%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.29
ATR(20)%4.54%
ATR Inc-15.72%
Range Today0.94
ADR(20)0.98
ADR(20)%3.79%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS30.67
Mansfield0.51
10 Day High27.56
10 Day Low21.41
20 Day High27.56
20 Day Low17.9
52 Week High33.26
52 Week Low16.38
CS1 End25.9
CR1 Start27.7
Volume & EV
DER(3)1.63%
DER(5)2.17%
Volume2.00M
Volume Incr-48.55%
Vol(5)1.90M
Vol(50)3.37M