ALLEGRO MICROSYSTEMS INC (ALGM) Technical Analysis
NASDAQ:ALGM • US01749D1054
Current stock price
ALGM Technical Rating and Analysis
We assign a technical rating of 1 out of 10 to ALGM. ALGM has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- ALGM is one of the lesser performing stocks in the Semiconductors & Semiconductor Equipment industry. 64% of 115 stocks in the same industry do better.
- In the last month ALGM has a been trading in the 27.65 - 35.53 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- ALGM has an average volume of 2579550 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 77% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
- 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.
- Considerably lower volume is observed in the last couple of days.
ALGM Weekly and Daily overview Charts
ALGM Setup Rating and Analysis
The technical rating of ALGM is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
ALGM Support and Resistance Analysis
23.84
We found 2 important support areas.
- A support zone ranging from 27.77 to 28.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @24.08 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 31.58 to 32.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
ALGM 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 ALGM is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ALGM is down. |
| ChartMill Relative Strength | 77.09 | POSITIVE | ALGM has a high relative strength, it outperformed 77.09% 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) | DOWN | NEGATIVE | The current price of ALGM is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 31.61 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.18 | NEGATIVE | The MACD value suggests ALGM has a negative trend. |
| Stochastics (14,3) | 18.5 | OVERSOLD | The low Stochastics value suggests ALGM may be oversold. |
| Average True Range in percent/ATR (20) | 5.94 | HIGH VOLATILITY | The high ATR as a percentage value for ALGM suggests high volalility. |
| Average Directional Index/ADX (14) | 29 | POSITIVE | The high ADX value value for ALGM suggests a strong trend. |
ALGM Chart- and CandleStick Pattern Analysis
ALGM Technicals: Chart, Performance Metrics, Trend & Indicators
28.04
-2.08 (-6.91%)
ALLEGRO MICROSYSTEMS INC / ALGM TA FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 1 / 10 to ALGM.
What is the trend direction for ALGM stock?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bearish.
What is the RSI signal for ALGM stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 31.6053. This indicates that the stock is currently neutral.
Can you provide the short term momentum for ALLEGRO MICROSYSTEMS INC?
The short term momentum for ALLEGRO MICROSYSTEMS INC (ALGM) is negative.
Can you provide the support and resistance levels for ALLEGRO MICROSYSTEMS INC?
ALLEGRO MICROSYSTEMS INC (ALGM) has a support level at 28.03 and a resistance level at 31.58. Check the full technical report for our detailed analysis of ALGM support and resistance levels.