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- 9/22/2023 -
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Allstate Corp. (ALL) Technical Analysis
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|It was a second consecutive positive week for the Allstate Corp. (ALL). During the week, the ALL gained 5.31 points, or 4.88%, and closed at 114.09 on Friday, September 22, 2023. Weekly volume was 17% above average. |
ALL is a member of Financials Sector. Financials is the most overbought 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 ALL long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 13.77 and reached 144.46 on April 21, 2022. ALL gained -130.69 points, or -949.09%, in 684 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 80.10 and resistance is at 158.02. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See ALL medium-term trend chart]
A medium-term downtrend had started on January 10, 2023 at 142.15 and reached 100.57 on July 17, 2023. ALL lost 41.58 points, or 29.25%, in 26 weeks. The price is now at the 32.52% retracement level.
Weekly Technical Indicators: [See ALL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 21, 2023. 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 ALL short-term trend chart]
A short-term uptrend had started on August 21, 2023 at 104.29 and reached 115.79 on September 20, 2023. ALL gained -11.50 points, or -11.03%, in 30 days. The price is now at the 14.78% retracement level.
Daily Technical Indicators: [See ALL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since August 29, 2023. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.