ALLEGRO MICROSYSTEMS INC (ALGM) Stock Technical Analysis
USA - NASDAQ:ALGM - US01749D1054 - Common Stock
We assign a technical rating of 4 out of 10 to ALGM. In the past year, ALGM was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
ALGM has an average technical rating and the quality of the presented setup is also 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.
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25.10
When analyzing the support we can see 4 important areas.
- A support zone ranging from 30.78 to 30.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 29.64 to 30.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @26.70 from a trend line in the daily time frame.
- Support @25.35 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 30.92 to 31.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- 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 | UP | POSITIVE | The short term trend for ALGM is up. |
| ChartMill Relative Strength | 72.64 | POSITIVE | ALGM has a high relative strength, it outperformed 72.64% 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) | DOWN | MIXED | The current price of ALGM is above a declining 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) | 58.64 | NEUTRAL | The RSI value for ALGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.44 | POSITIVE | The MACD value suggests ALGM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 87.07 | OVERBOUGHT | The high Stochastics value suggests ALGM may be overbought. |
| Average True Range in percent/ATR (20) | 4.09 | MEDIUM VOLATILITY | The ATR as a percentage value for ALGM suggests some volalility. |
| Average Directional Index/ADX (14) | 21.68 | NEUTRAL | The ADX value for ALGM suggests a possible start of a new trend. |
30.91
-0.08 (-0.26%)
ALLEGRO MICROSYSTEMS INC / ALGM FAQ
What is the ChartMill technical rating of ALLEGRO MICROSYSTEMS INC (ALGM) stock?
ChartMill assigns a technical rating of 4 / 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 58.6425. 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 0.437629, 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 30.9 and a resistance level at 30.92. Check the full technical report for our detailed analysis of ALGM support and resistance levels.