ALGM Technical Analysis - ALLEGRO MICROSYSTEMS INC

Technical Rating and Analysis

Overall ALGM gets a technical rating of 7 out of 10. In the last year, ALGM was one of the better performers, but we do observe some doubts in the very recent evolution.

The short term is neutral, but the long term trend is still positive. Not much to worry about for now.

When comparing the yearly performance of all stocks, we notice that ALGM is one of the better performing stocks in the market, outperforming 79% of all stocks. On top of that, ALGM also shows a nice and consistent pattern of rising prices.

ALGM has an average volume of 1713260 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

ALGM is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry, ALGM did better than 61% of them.

ALGM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ALGM is lagging the market.

In the last month ALGM has a been trading in the 28.94 - 33.20 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ALLEGRO MICROSYSTEMS INC / ALGM Weekly stock chart

ALLEGRO MICROSYSTEMS INC / ALGM Daily stock chart

Setup Rating and Analysis

ALGM has an excellent technical rating, but the quality of the setup is 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

29.50

32.55

When analyzing the support we can see 2 important areas.

A support zone ranging from 30.33 to 30.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 29.80 to 29.81. This zone is formed by a combination of multiple trend lines in multiple time frames.

We found 1 important resistance area.

A resistance zone ranging from 31.96 to 32.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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	NEUTRAL	NEUTRAL	The short term trend for ALGM is neutral.
ChartMill Relative Strength	79.12	POSITIVE	ALGM has a high relative strength, it outperformed 79.12% 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	NEGATIVE	The current price of ALGM is below 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)	57.22	NEUTRAL	The RSI value for ALGM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.16	POSITIVE	The MACD value suggests ALGM has a positive trend.
Stochastics (14,3)	55.84	NEUTRAL	The Stochastics value for ALGM is a neutral value.
Average True Range in percent/ATR (20)	3.4	MEDIUM VOLATILITY	The ATR as a percentage value for ALGM suggests some volalility.
Average Directional Index/ADX (14)	11.69	NEGATIVE	The low ADX value for ALGM suggests a weak or negative trend.