ALLEGRO MICROSYSTEMS INC (ALGM) Technical Analysis
NASDAQ:ALGM • US01749D1054
Current stock price
ALGM Technical Rating and Analysis
We assign a technical rating of 2 out of 10 to ALGM. 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.
- ALGM is part of the Semiconductors & Semiconductor Equipment industry. There are 115 other stocks in this industry, of which 60% are performing better than ALGM.
- In the last month ALGM has a been trading in the 29.56 - 37.03 range, which is quite wide. It is currently trading near the lows of this range.
- ALGM has an average volume of 2617490 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
- Looking at the yearly performance, ALGM did better than 80% of all other 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
ALGM has a poor technical rating and the quality of the setup is also only medium 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
ALGM Support and Resistance Analysis
27.30
When analyzing the support we can see 2 important areas.
- A support zone ranging from 29.95 to 29.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @27.58 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 30.13 to 30.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 32.28 to 32.80. 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 | 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 | 80.85 | POSITIVE | ALGM has a high relative strength, it outperformed 80.85% 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) | 37.23 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests ALGM has a negative trend. |
| Stochastics (14,3) | 38.57 | NEUTRAL | The Stochastics value for ALGM is a neutral value. |
| Average True Range in percent/ATR (20) | 5.41 | HIGH VOLATILITY | The high ATR as a percentage value for ALGM suggests high volalility. |
| Average Directional Index/ADX (14) | 28.03 | 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
30.12
-1.11 (-3.55%)
ALLEGRO MICROSYSTEMS INC / ALGM TA FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 2 / 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 37.2312. 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 29.95 and a resistance level at 30.13. Check the full technical report for our detailed analysis of ALGM support and resistance levels.