Allete Inc (ALE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ALE - US0185223007 - Common Stock
Overall ALE gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ALE is only an average performer.
Although ALE has an excellent technical rating, the quality of the presented setup is not ideal 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.
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61.42
2 important support areas can be observed.
- A support zone ranging from 67.04 to 67.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 62.04 to 65.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 67.91 to 67.94. 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 ALE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALE is up. |
| ChartMill Relative Strength | 61.41 | NEUTRAL | ALE is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ALE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ALE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ALE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.89 | NEUTRAL | The RSI value for ALE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests ALE has a positive trend. |
| Stochastics (14,3) | 84.32 | OVERBOUGHT | The high Stochastics value suggests ALE may be overbought. |
| Average True Range in percent/ATR (20) | 0.21 | LOW VOLATILITY | The low ATR as a percentage value for ALE suggests low volalility. |
| Average Directional Index/ADX (14) | 41.44 | POSITIVE | The high ADX value value for ALE suggests a strong trend. |
67.9
-0.04 (-0.06%)
Allete Inc / ALE FAQ
What is the technical rating for ALE stock?
ChartMill assigns a technical rating of 7 / 10 to ALE.
What is the trend direction for ALE stock?
The current trend direction for Allete Inc (ALE) is Bullish.
What is the RSI signal for ALE stock?
Allete Inc (ALE) has an RSI value of 66.8929. This indicates that the stock is currently neutral.
What is the buy/sell signal for Allete Inc (ALE) stock?
The buy/sell signal for Allete Inc (ALE) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for Allete Inc (ALE) stock?
Allete Inc (ALE) has a support level at 67.82 and a resistance level at 67.91. Check the full technical report for our detailed analysis of ALE support and resistance levels.