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Advanced TA SearchArchive
- 5/17/2024 -
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Allstate Corp. (ALL) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Allstate Corp. (ALL). During the week, the ALL dropped -3.20 points, or -1.85%, and closed at 169.51 on Friday, May 17, 2024. Weekly volume was -31% below 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 177.37 on May 2, 2024. ALL gained -163.60 points, or -1188.09%, in 790 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (106.12) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 ALL medium-term trend chart]
A medium-term uptrend had started on July 17, 2023 at 100.57 and reached 177.37 on May 2, 2024. ALL gained -76.80 points, or -76.36%, in 41 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (169.75) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See ALL weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since May 3, 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 ALL short-term trend chart]
A short-term downtrend had started on May 2, 2024 at 177.37 and reached 165.10 on May 15, 2024. ALL lost 12.27 points, or 6.92%, in 13 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See ALL daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 25, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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.
During the last week, the price has declined below 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.
Price is close to the 50 Day Moving Average. 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.
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