ALLGO Technical Analysis - LARGO SA

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to ALLGO. ALLGO 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.

The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.

Warning: ALLGO has an average volume of 2626 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

ALLGO is one of the better performing stocks in the Specialty Retail industry, it outperforms 71% of 57 stocks in the same industry.

In the last month ALLGO has a been trading in the 2.02 - 2.23 range, which is quite wide. It is currently trading near the high of this range.

When comparing the performance of all stocks over the past year, ALLGO turns out to be only a medium performer in the overall market: it outperformed 45% of all stocks.

ALLGO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ALLGO is lagging the market.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

ALLGO has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 2.22. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.20, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.65

2.73

When analyzing the support we can see 5 important areas.

A support zone ranging from 2.17 to 2.20. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @2.13 from a trend line in the weekly time frame.
A support zone ranging from 2.07 to 2.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @1.76 from a trend line in the weekly time frame.
Support @1.67 from a horizontal line in the weekly time frame.

We can see 3 important resistance areas.

A resistance zone ranging from 2.22 to 2.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @2.41 from a horizontal line in the daily time frame.
Resistance @2.70 from a horizontal line in the weekly time frame.

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What is Support and Resistance

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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 ALLGO.PA is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ALLGO.PA is neutral.
ChartMill Relative Strength	45.55	NEUTRAL	ALLGO.PA is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ALLGO.PA is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ALLGO.PA is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of ALLGO.PA is below the rising SMA(200).
Relative Strength Index/RSI (14)	53.89	NEUTRAL	The RSI value for ALLGO.PA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.01	POSITIVE	The MACD value suggests ALLGO.PA has a positive trend.
Stochastics (14,3)	92.06	OVERBOUGHT	The high Stochastics value suggests ALLGO.PA may be overbought.
Average True Range in percent/ATR (20)	2.77	MEDIUM VOLATILITY	The ATR as a percentage value for ALLGO.PA suggests some volalility.
Average Directional Index/ADX (14)	29.24	POSITIVE	The high ADX value value for ALLGO.PA suggests a strong trend.