Taking everything into account, ALGM scores 8 out of 10 in our technical rating. In the last year, ALGM was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
Although ALGM has an excellent technical rating, it does not offer a high 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.
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23.95
When analyzing the support we can see 5 important areas.
- A support zone ranging from 31.05 to 31.28. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 27.18 to 27.22. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @26.70 from a horizontal line in the weekly time frame.
- Support @25.44 from a trend line in the weekly time frame.
- Support @24.19 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 31.30 to 31.89. 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 | NEUTRAL | NEUTRAL | The long term trend for ALGM is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ALGM is up. |
| ChartMill Relative Strength | 85.77 | POSITIVE | ALGM has a high relative strength, it outperformed 85.77% 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) | 66.98 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.53 | POSITIVE | The MACD value suggests ALGM has a positive trend. |
| Stochastics (14,3) | 80.28 | OVERBOUGHT | The high Stochastics value suggests ALGM may be overbought. |
| Average True Range in percent/ATR (20) | 4.24 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 22.35 | NEUTRAL | The ADX value for ALGM suggests a possible start of a new trend. |
31.29
-0.01 (-0.03%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 8 / 10 to ALGM.
What is the trend direction for ALGM stock?
The current trend direction for ALLEGRO MICROSYSTEMS INC (ALGM) is Bearish.
What is the RSI signal for ALGM stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has an RSI value of 66.9783. 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 31.28 and a resistance level at 31.3. Check the full technical report for our detailed analysis of ALGM support and resistance levels.