The Greedy Trader Weekly Analysis
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Quarterly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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Align Technology Inc. (ALGN) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineOversold industryPrice is near the Fibonacci 38.2% retracement level
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe Bollinger Bands are historically close together
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.76
Williams' Percentage Range (W%R) 59.10
Lane's Stochastic (%D-Slow) 39.30
Greed/Fear Indicator (GFI) 44.33
Moving Average Converg./Diverg. (MACD) 5.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.59
Williams' Percentage Range (W%R) 13.70
Overbought
Lane's Stochastic (%D-Slow) 81.23
Overbought
Greed/Fear Indicator (GFI) 74.77
Moving Average Converg./Diverg. (MACD) 1.92
Trading Signals
Description Value Chart
Weekly Trendline Resistance 345.32
Parabolic System 330.47
Upper Bollinger Band 326.94
Weekly Stochastic Crossing 326.41
Weekly Trendline Support 324.67
20 Day Moving Average 317.79
Price 317.58
Daily Stochastic Crossing 312.87
Lower Bollinger Band 304.04
50 Day Moving Average 303.81
Sector and Industry
Description Name Rank
Sector Health Care 4
Industry Health Care Supplies 10
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 254.28
Low Date 01/25/2024
High 335.40
High Date 03/21/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 345.32
Support 324.67
Low 176.34
Low Date 10/30/2023
High 335.40
High Date 03/21/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 413.20
High Date 07/27/2023
Low 176.34
Low Date 10/30/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 172.05
Low Date 11/03/2022
High 413.20
High Date 07/27/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 737.45
High Date 09/23/2021
Low 172.05
Low Date 11/03/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.