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|It was a second consecutive positive week for the Allegion (ALLE). During the week, the ALLE gained 1.09 points, or 1.41%, and closed at 78.37 on Friday, May 18, 2018. ALLE was trading at average weekly trading volume. |
Long-term trend: [See ALLE long-term trend chart]
A long-term downtrend had started on October 13, 2017 at 89.81 and reached 73.85 on May 3, 2018. ALLE lost 15.96 points, or 17.77%, in 28 weeks. The price is now at the 28.32% retracement level.
Medium-term trend: [See ALLE medium-term trend chart]
A medium-term downtrend had started on March 13, 2018 at 87.99 and reached 73.85 on May 3, 2018. ALLE lost 14.14 points, or 16.07%, in 7 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 69.83 and resistance is at 86.20. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See ALLE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 20, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 May 3, 2018 at 73.85 and reached 78.50 on May 18, 2018. ALLE gained -4.65 points, or -6.30%, in 15 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 76.43 and resistance is at 80.32. 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 short-term trend.
Daily Technical Indicators: [See ALLE daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price is close to 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.