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|It was the negative week for the Allegion (ALLE). During the week, the ALLE dropped -2.20 points, or -2.01%, and closed at 107.10 on Friday, May 26, 2023. Weekly volume was -28% below average. |
ALLE is a member of Industrials Sector. Industrials 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 ALLE long-term trend chart]
A long-term downtrend had started on September 3, 2021 at 148.70 and reached 87.33 on October 13, 2022. ALLE lost 61.37 points, or 41.27%, in 57 weeks. The price is now at the 32.21% retracement level.
Medium-term trend: [See ALLE medium-term trend chart]
A medium-term downtrend had started on February 2, 2023 at 123.46 and reached 98.01 on April 5, 2023. ALLE lost 25.45 points, or 20.61%, in 8 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See ALLE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 10, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See ALLE short-term trend chart]
A short-term uptrend had started on April 5, 2023 at 98.01 and reached 112.07 on April 27, 2023. ALLE gained -14.06 points, or -14.35%, in 22 days. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (108.86) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ALLE may retest the broken support line. It is considered to be a resistance line now. 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 short-term trend.
Daily Technical Indicators: [See ALLE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (5.19%) is close to one year low (6.45%). It is 60.55% 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.