Taking everything into account, ALGM scores 1 out of 10 in our technical rating. 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.
ALGM has a poor technical rating and the quality of the setup is also only medium 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 support we can see 2 important areas.
- Support @24.07 from a horizontal line in the weekly time frame.
- A support zone ranging from 22.80 to 23.09. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 26.70 to 26.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @28.45 from a trend line in the daily time frame.
- Resistance @30.29 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 | NEUTRAL | NEUTRAL | The short term trend for ALGM is neutral. |
| ChartMill Relative Strength | 66.49 | NEUTRAL | ALGM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of ALGM is above 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) | UP | MIXED | The current price of ALGM is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.45 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.34 | POSITIVE | The MACD value suggests ALGM has a positive trend. |
| Stochastics (14,3) | 77.32 | NEUTRAL | The Stochastics value for ALGM is a neutral value. |
| Average True Range in percent/ATR (20) | 4.3 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 17 | NEGATIVE | The low ADX value for ALGM suggests a weak or negative trend. |
26.515
+0.55 (+2.1%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 1 / 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 50.446. 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 0.342248, 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 24.07 and a resistance level at 26.7. Check the full technical report for our detailed analysis of ALGM support and resistance levels.