We assign a technical rating of 9 out of 10 to ALGM. Both in the recent history as in the last year, ALGM has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Both the short term and long term trends are positive. This is a very positive sign.
- ALGM 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 ALGM is lagging the market slightly.
- In the last month ALGM has a been trading in the 26.18 - 35.39 range, which is quite wide. It is currently trading near the high of this range.
- ALGM has an average volume of 2004820 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that ALGM is one of the better performing stocks in the market, outperforming 87% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
- ALGM is part of the Semiconductors & Semiconductor Equipment industry. There are 113 other stocks in this industry, ALGM did better than 58% of them.
Although ALGM 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.
More info and screens
24.44
4 important support areas can be observed.
- A support zone ranging from 32.48 to 33.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 28.38 to 28.77. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @26.02 from a trend line in the weekly time frame.
- Support @24.69 from a trend 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 | UP | POSITIVE | The long term trend for ALGM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALGM is up. |
| ChartMill Relative Strength | 87.1 | POSITIVE | ALGM has a high relative strength, it outperformed 87.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ALGM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ALGM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ALGM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 68.41 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests ALGM has a positive trend. |
| Stochastics (14,3) | 68.87 | NEUTRAL | The Stochastics value for ALGM is a neutral value. |
| Average True Range in percent/ATR (20) | 4.69 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 33.86 | POSITIVE | The high ADX value value for ALGM suggests a strong trend. |
34.55
+1.89 (+5.79%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 9 / 10 to ALGM.
What is the trend direction for ALGM stock?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bullish.
What is the RSI signal for ALGM stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 68.4104. This indicates that the stock is currently neutral.
Can you provide the short term momentum for ALLEGRO MICROSYSTEMS INC?
The short term momentum for ALLEGRO MICROSYSTEMS INC (ALGM) is positive.
Can you provide the support and resistance levels for ALLEGRO MICROSYSTEMS INC?
ALLEGRO MICROSYSTEMS INC (ALGM) has a support level at 33.17. Check the full technical report for our detailed analysis of ALGM support and resistance levels.