The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 50.0% 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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- 3/15/2024 -
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Allegion (ALLE) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtBroken trend resistance lineTrend support at 129.93
Daily :Broken trend support lineBullish Meeting Lines CandlestickThe period of low volatility of the stock price
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It was the negative week for the Allegion (ALLE). During the week, the ALLE gave back -0.46 points, or -0.35%, and closed at 130.39 on Friday, March 15, 2024. ALLE was trading at average weekly trading volume.

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 chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (99.16) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See ALLE medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 95.94 and reached 136.91 on February 20, 2024. ALLE gained -40.97 points, or -42.70%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (129.93) 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 ALLE 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 1, 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 ALLE short-term trend chart]
A short-term uptrend had started on March 4, 2024 at 125.78 and reached 134.50 on March 8, 2024. ALLE gained -8.72 points, or -6.93%, in 4 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (132.03) 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 short-term trend.

Daily Technical Indicators: [See ALLE daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 14, 2024. The distance between MACD and the signal line is low and getting smaller.

The distance between the Bollinger Bands is falling, and it was 5.58% on Friday. It is 51.41% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Candlestick pattern: [See ALLE candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.42
Williams' Percentage Range (W%R) 71.10
Lane's Stochastic (%D-Slow) 64.27
Greed/Fear Indicator (GFI) 49.54
Moving Average Converg./Diverg. (MACD) 1.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.78
Williams' Percentage Range (W%R) 19.30
Overbought
Lane's Stochastic (%D-Slow) 71.37
Greed/Fear Indicator (GFI) 69.80
Moving Average Converg./Diverg. (MACD) 4.45
Trading Signals
Description Value Chart
Weekly Trendline Resistance 142.95
Monthly Trendline Resistance 141.15
Upper Bollinger Band 133.49
Weekly Trendline Support 132.03
Daily Stochastic Crossing 131.95
Weekly Stochastic Crossing 131.20
Price 130.39
20 Day Moving Average 129.99
Monthly Trendline Support 129.93
Parabolic System 128.27
50 Day Moving Average 127.21
Lower Bollinger Band 126.22
Yearly Trendline Resistance 121.39
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Building Products 104
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 134.50
High Date 03/08/2024
Low 128.66
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 142.95
Support 132.03
Low 125.78
Low Date 03/04/2024
High 134.50
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 141.15
Support 129.93
Low 95.94
Low Date 10/25/2023
High 136.91
High Date 02/20/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 87.33
Low Date 10/13/2022
High 136.91
High Date 02/20/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 121.39
Support 99.16
High 148.70
High Date 09/03/2021
Low 87.33
Low Date 10/13/2022
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.