Overall ALGM gets a technical rating of 3 out of 10. ALGM has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
The technical rating of ALGM is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
23.20
3 important support areas can be observed.
- Support @24.66 from a trend line in the weekly time frame.
- Support @24.08 from a horizontal line in the weekly time frame.
- Support @23.43 from a trend line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 27.70 to 28.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 29.22 to 29.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @30.08 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 | NEUTRAL | NEUTRAL | The long term trend for ALGM is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ALGM is neutral. |
| ChartMill Relative Strength | 66.64 | NEUTRAL | ALGM is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of ALGM is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of ALGM is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.23 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests ALGM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 71.65 | NEUTRAL | The Stochastics value for ALGM is a neutral value. |
| Average True Range in percent/ATR (20) | 4.21 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 20.78 | NEUTRAL | The ADX value for ALGM suggests a possible start of a new trend. |
27.11
-1.37 (-4.81%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 3 / 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 48.2325. This indicates that the stock is currently neutral.
What is the MACD signal for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
The MACD indicator for ALLEGRO MICROSYSTEMS INC (ALGM) has a value of 0.310904, indicating a bearish trend.
What are the support and resistance levels for ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ALLEGRO MICROSYSTEMS INC (ALGM) has a support level at 24.66 and a resistance level at 27.7. Check the full technical report for our detailed analysis of ALGM support and resistance levels.