ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
NASDAQ:ALGM - Nasdaq - US01749D1054 - Common Stock - Currency: USD
We assign a technical rating of 5 out of 10 to ALGM. In the last year, ALGM was one of the better performers, but we do observe some doubts in the very recent evolution.
ALGM is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
ALGM is part of the Semiconductors & Semiconductor Equipment industry. There are 110 other stocks in this industry. ALGM outperforms 74% of them.
ALGM has an average volume of 2033870 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
Looking at the yearly performance, ALGM did better than 84% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
ALGM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ALGM is lagging the market.
Considerably lower volume is observed in the last couple of days.
ALGM has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 30.63, a Stop Loss order could be placed below this zone.
More info and screens
29.51
32.21
2 important support areas can be observed.
- A support zone ranging from 30.39 to 30.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @29.81 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 30.65 to 30.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 31.86 to 31.89. This zone is formed by a combination of multiple trend lines and important moving averages 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 | UP | POSITIVE | The long term trend for ALGM is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ALGM is down. |
| ChartMill Relative Strength | 84.01 | POSITIVE | ALGM has a high relative strength, it outperformed 84.01% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ALGM is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of ALGM is below 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) | 40.54 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.14 | NEGATIVE | The MACD value suggests ALGM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 24.16 | NEUTRAL | The Stochastics value for ALGM is a neutral value. |
| Average True Range in percent/ATR (20) | 4.24 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 23.29 | NEUTRAL | The ADX value for ALGM suggests a possible start of a new 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)
30.64
-0.19 (-0.62%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySemiconductors & Semiconductor Equipment
Performance
% Chg-0.62%
1 Week-3.92%
2 Weeks-1.92%
1 Month-15.45%
3 Month20.54%
6 Month15.14%
12 Month22.61%
2 Year-19.9%
3 Year31.39%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.21
ATR(20)%4.24%
ATR Inc-54.26%
Range Today0.69
ADR(20)1.16
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
CRS84.01
Mansfield1.23
10 Day High32.35
10 Day Low29.71
20 Day High35.61
20 Day Low29.71
52 Week High38.45
52 Week Low16.38
CS1 End30.63
CR1 Start30.65
Volume & EV
DER(3)0.96%
DER(5)-1.32%
Volume1.03M
Volume Incr-47.9%
Vol(5)1.07M
Vol(50)2.03M