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Archive - 3/15/2024 - 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 a second consecutive positive week for the Align Technology Inc. (ALGN). During the week, the ALGN climbed 1.86 points, or 0.60%, and closed at 314.35 on Friday, March 15, 2024. Weekly volume was -36% below average. 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. The price is now at the 40.99% retracement 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 325.90 on March 13, 2024. ALGN gained -149.56 points, or -84.81%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 300.90 and resistance is at 343.06. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend. Weekly Technical Indicators: [See ALGN weekly technical indicators chart] Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index 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 325.90 on March 13, 2024. ALGN gained -71.62 points, or -28.17%, in 48 days. The chart has formed a Rising Wedge chart pattern. Daily Technical Indicators: [See ALGN daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since February 27, 2024. The distance between MACD and the signal line is low and getting smaller. The distance between the Bollinger Bands (7.53%) is close to one year low (8.28%). It is 65.55% 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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