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Downtrend Broken Resist.Archive
- 12/13/2024 -
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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 for the Align Technology Inc. (ALGN). During the week, the ALGN gained 3.05 points, or 1.31%, and closed at 235.40 on Friday, December 13, 2024. Weekly volume was -48% below average.
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 (181.26) 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 March 21, 2024 at 335.40 and reached 196.09 on August 5, 2024. ALGN lost 139.31 points, or 41.54%, in 19 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (208.81) 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 medium-term trend.
 Weekly Technical Indicators: [See ALGN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 15, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 246.20 on December 11, 2024. ALGN gained -41.40 points, or -20.21%, in 40 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See ALGN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since November 4, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
 Candlestick pattern: [See ALGN candlestick chart pattern]
On Friday the chart has formed a Bearish On Neck Candlestick pattern. This is the weakest bearish continuation signal; it appears in a downtrend. Use the Technical Stock Screener to see the list of stocks that had a Bearish On Neck Candlestick pattern during the last week.
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