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Archive - 4/5/2024 - Sign In to see current Signals. |
Align Technology Inc. (ALGN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Align Technology Inc. (ALGN). During the week, the ALGN dropped -10.34 points, or -3.15%, and closed at 317.58 on Friday, April 5, 2024. Weekly volume was -25% below average. ALGN is a member of Health Care Supplies Industry. Health Care Supplies is the tenth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See ALGN long-term trend chart] A long-term uptrend had started on November 3, 2022 at 172.05 and reached 413.20 on July 27, 2023. ALGN gained -241.15 points, or -140.16%, in 38 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level. Medium-term trend: [See ALGN medium-term trend chart] A medium-term uptrend had started on October 30, 2023 at 176.34 and reached 335.40 on March 21, 2024. ALGN gained -159.06 points, or -90.20%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (324.67) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend. Weekly Technical Indicators: [See ALGN weekly technical indicators chart] Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is above its signal line since December 22, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See ALGN short-term trend chart] A short-term uptrend had started on January 25, 2024 at 254.28 and reached 335.40 on March 21, 2024. ALGN gained -81.12 points, or -31.90%, in 56 days. The chart has formed a Rising Wedge chart pattern. Daily Technical Indicators: [See ALGN daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. The distance between the Bollinger Bands (7.2%) is close to one year low (7.53%). It is 66.75% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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