ALTG Technical Analysis - ALTA EQUIPMENT GROUP INC

Technical Rating and Analysis

Taking everything into account, ALTG scores 4 out of 10 in our technical rating. In the last year, ALTG was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.

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.

ALTG 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 ALTG is lagging the market slightly.

When comparing the yearly performance of all stocks, we notice that ALTG is one of the better performing stocks in the market, outperforming 79% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

ALTG is an average performer in the Trading Companies & Distributors industry, it outperforms 68% of 49 stocks in the same industry.

In the last month ALTG has a been trading in the 7.01 - 8.88 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ALTA EQUIPMENT GROUP INC / ALTG Weekly stock chart

ALTA EQUIPMENT GROUP INC / ALTG Daily stock chart

Setup Rating and Analysis

Although the technical rating is only medium, ALTG does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 7.08, 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

7.01

8.72

We found 1 important support area.

A support zone ranging from 7.08 to 7.08. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 2 important resistance areas.

Resistance @8.39 from a trend line in the weekly time frame.
A resistance zone ranging from 8.58 to 8.63. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	UP	POSITIVE	The long term trend for ALTG is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ALTG is neutral.
ChartMill Relative Strength	79.15	POSITIVE	ALTG has a high relative strength, it outperformed 79.15% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of ALTG is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ALTG is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of ALTG is above a declining SMA(200).
Relative Strength Index/RSI (14)	47.68	NEUTRAL	The RSI value for ALTG is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.07	NEGATIVE	The MACD value suggests ALTG has a negative trend, although the MACD value is rising.
Stochastics (14,3)	20.98	NEUTRAL	The Stochastics value for ALTG is a neutral value.
Average True Range in percent/ATR (20)	4.5	MEDIUM VOLATILITY	The ATR as a percentage value for ALTG suggests some volalility.
Average Directional Index/ADX (14)	15.54	NEGATIVE	The low ADX value for ALTG suggests a weak or negative trend.