ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
USA - NASDAQ:ALGM - US01749D1054 - Common Stock
Taking everything into account, ALGM scores 2 out of 10 in our technical rating. Although ALGM is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The technical rating of ALGM is bad and it also does not present a quality setup 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
25.10
We found 2 important support areas.
- A support zone ranging from 25.92 to 25.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @25.35 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 27.60 to 27.89. 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 29.02 to 29.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @31.89 from a horizontal line 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 | DOWN | NEGATIVE | The short term trend for ALGM is down. |
| ChartMill Relative Strength | 73.2 | POSITIVE | ALGM has a high relative strength, it outperformed 73.2% 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) | DOWN | NEGATIVE | The current price of ALGM is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of ALGM is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 33.49 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.34 | NEGATIVE | The MACD value suggests ALGM has a negative trend. |
| Stochastics (14,3) | 10.26 | OVERSOLD | The low Stochastics value suggests ALGM may be oversold. |
| Average True Range in percent/ATR (20) | 5.83 | HIGH VOLATILITY | The high ATR as a percentage value for ALGM suggests high volalility. |
| Average Directional Index/ADX (14) | 14.66 | NEGATIVE | The low ADX value for ALGM suggests a weak or negative trend. |
26.47
-0.14 (-0.53%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 2 / 10 to ALGM.
Can you provide the trend direction for ALLEGRO MICROSYSTEMS INC?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bearish.
What is the RSI signal for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 33.4874. This indicates that the stock is currently neutral.
What is the MACD signal for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
The MACD indicator for ALLEGRO MICROSYSTEMS INC (ALGM) has a value of -0.342409, indicating a bearish trend.
What are the support and resistance levels for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has a support level at 25.92 and a resistance level at 27.6. Check the full technical report for our detailed analysis of ALGM support and resistance levels.