ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
NASDAQ:ALGM • US01749D1054
Taking everything into account, ALGM scores 9 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- In the last month ALGM has a been trading in the 35.35 - 43.86 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.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- Looking at the yearly performance, ALGM did better than 91% of all other stocks. On top of that, ALGM also shows a nice and consistent pattern of rising prices.
- ALGM is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ALGM is lagging the market slightly.
- ALGM has an average volume of 2685620 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 64% of 115 stocks in the same industry.
Although ALGM has an excellent technical rating, it does not present a decent entry opportunity 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
26.53
We found 3 important support areas.
- A support zone ranging from 36.25 to 36.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @31.55 from a trend line in the daily time frame.
- Support @26.80 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 38.67 to 39.33. 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 | NEUTRAL | NEUTRAL | The short term trend for ALGM is neutral. |
| ChartMill Relative Strength | 91.51 | POSITIVE | ALGM has a high relative strength, it outperformed 91.51% 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 | 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) | 47.09 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.8 | NEGATIVE | The MACD value suggests ALGM has a negative trend. |
| Stochastics (14,3) | 16.42 | OVERSOLD | The low Stochastics value suggests ALGM may be oversold. |
| Average True Range in percent/ATR (20) | 5.76 | HIGH VOLATILITY | The high ATR as a percentage value for ALGM suggests high volalility. |
| Average Directional Index/ADX (14) | 37.67 | POSITIVE | The high ADX value value for ALGM suggests a strong trend. |
36.47
-0.3 (-0.82%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 9 / 10 to ALGM.
What is the trend direction for ALGM stock?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bullish.
What is the RSI signal for ALGM stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 47.0918. 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 neutral.
Can you provide the support and resistance levels for ALLEGRO MICROSYSTEMS INC?
ALLEGRO MICROSYSTEMS INC (ALGM) has a support level at 36.46 and a resistance level at 38.67. Check the full technical report for our detailed analysis of ALGM support and resistance levels.