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Health Care Supplies Industry Stocks Technical Analysis - ALGNArchive
- 11/8/2024 -
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Align Technology Inc. (ALGN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the Align Technology Inc. (ALGN). During the week, the ALGN gained 13.40 points, or 6.44%, and closed at 221.40 on Friday, November 8, 2024. It was the best weekly gain since September 13, 2024. ALGN was trading at average weekly trading volume.
ALGN is a member of Health Care Sector. Health Care is the second most oversold sector. 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 downtrend had started on September 23, 2021 at 737.45 and reached 172.05 on November 3, 2022. ALGN lost 565.40 points, or 76.67%, in 58 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (180.84) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.
 Medium-term trend: [See ALGN medium-term trend chart]
A medium-term downtrend had started on September 18, 2024 at 262.87 and reached 204.80 on November 1, 2024. ALGN lost 58.07 points, or 22.09%, in 6 weeks. The price is now at the 28.59% retracement level.
 Weekly Technical Indicators: [See ALGN weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 November 1, 2024 at 204.80 and reached 225.10 on November 6, 2024. ALGN gained -20.30 points, or -9.91%, in 5 days. The price is now at the 18.23% retracement level.
 Daily Technical Indicators: [See ALGN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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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