ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
USA - NASDAQ:ALGM - US01749D1054 - Common Stock
We assign a technical rating of 0 out of 10 to ALGM. ALGM scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The technical rating of ALGM is bad and it also does not present a quality setup 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
22.57
When analyzing the resistance we notice 3 important areas.
- Resistance @29.08 from a trend line in the daily time frame.
- Resistance @30.47 from a trend line in the daily time frame.
- Resistance @31.89 from a horizontal line 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 | DOWN | NEGATIVE | The long term trend for ALGM is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ALGM is down. |
| ChartMill Relative Strength | 27.68 | NEGATIVE | ALGM has a low relative strength, it was outperformed by 72.32% 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) | DOWN | NEGATIVE | The current price of ALGM is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ALGM is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 20.81 | OVERSOLD | The low RSI value suggests ALGM may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.51 | NEGATIVE | The MACD value suggests ALGM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 2.44 | OVERSOLD | The low Stochastics value suggests ALGM may be oversold. |
| Average True Range in percent/ATR (20) | 6.68 | HIGH VOLATILITY | The high ATR as a percentage value for ALGM suggests high volalility. |
| Average Directional Index/ADX (14) | 21.6 | NEUTRAL | The ADX value for ALGM suggests a possible start of a new trend. |
22.8
-0.43 (-1.85%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 0 / 10 to ALGM.
Can you provide the trend direction for ALLEGRO MICROSYSTEMS INC?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bearish.
What is the RSI signal for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 20.8144. This indicates that the stock is currently oversold.
What is the MACD signal for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
The MACD indicator for ALLEGRO MICROSYSTEMS INC (ALGM) has a value of -0.514844, indicating a bearish trend.
What are the support and resistance levels for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has a resistance level at 29.08. Check the full technical report for our detailed analysis of ALGM support and resistance levels.