ALGOMA STEEL GROUP INC (ASTL) Stock Technical Analysis
NASDAQ:ASTL - Nasdaq - CA0156581070 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to ASTL. In the last year, ASTL was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
ASTL is one of the lesser performing stocks in the Metals & Mining industry. 67% of 154 stocks in the same industry do better.
Both the short term and long term trends are positive. This is a very positive sign.
ASTL is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
When comparing the performance of all stocks over the past year, ASTL turns out to be only a medium performer in the overall market: it outperformed 55% of all stocks.
ASTL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ASTL is lagging the market.
ASTL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price.
More info and screens
5.45
7.19
When analyzing the support we can see 3 important areas.
- A support zone ranging from 6.90 to 6.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 6.53 to 6.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @5.50 from a trend line in the daily time frame.
2 important resistance areas can be observed.
- Resistance @6.92 from a trend line in the daily time frame.
- A resistance zone ranging from 7.10 to 7.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 ASTL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ASTL is up. |
| ChartMill Relative Strength | 55.26 | NEUTRAL | ASTL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ASTL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ASTL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ASTL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.7 | NEUTRAL | The RSI value for ASTL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests ASTL has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 57.09 | NEUTRAL | The Stochastics value for ASTL is a neutral value. |
| Average True Range in percent/ATR (20) | 4.08 | MEDIUM VOLATILITY | The ATR as a percentage value for ASTL suggests some volalility. |
| Average Directional Index/ADX (14) | 16.07 | NEGATIVE | The low ADX value for ASTL suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 6.93 | 6.89 | 0.04 (0.58%) | 25.00% |
| An entry @6.93. This is a Buy Stop order right above the resistance zone. | An exit @6.89. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.04 points, which is 0.58%. | For a 0.14% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of ASTL. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
6.92
-0.01 (-0.14%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-0.14%
1 Week4.37%
2 Weeks-1.28%
1 Month0.73%
3 Month34.89%
6 Month-21.81%
12 Month-20.18%
2 Year-10.48%
3 Year-24.78%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.26
ATR(20)%4.08%
ATR Inc-12.39%
Range Today0.2
ADR(20)0.27
ADR(20)%3.93%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS55.26
Mansfield-2.14
10 Day High7.24
10 Day Low6.59
20 Day High7.25
20 Day Low6.39
52 Week High12.14
52 Week Low4.17
CS1 End6.91
CR1 Start6.92
Volume & EV
DER(3)0.17%
DER(5)2.75%
Volume471.05K
Volume Incr-9.58%
Vol(5)869.50K
Vol(50)940.29K