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Health Care Supplies Industry Stocks Technical Analysis - ALGNArchive - 4/26/2024 - Sign In to see current Signals. |
Align Technology Inc. (ALGN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week after 3 consecutive negative weeks for the Align Technology Inc. (ALGN). During the week, the ALGN gained 10.04 points, or 3.36%, and closed at 309.02 on Friday, April 26, 2024. Weekly volume was 9% above 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 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. The price is now at the 43.20% retracement 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 Channel chart pattern. The uptrend support line (327.65) 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 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 above its signal line since December 22, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help. Short-term trend: [See ALGN short-term trend chart] A short-term downtrend had started on March 21, 2024 at 335.40 and reached 296.50 on April 19, 2024. ALGN lost 38.90 points, or 11.60%, in 29 days. The chart has formed a Falling Channel chart pattern. Daily Technical Indicators: [See ALGN daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help. The daily MACD line is below its signal line since March 28, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak. During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.
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