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| Candlesticks Name: | Bearish Deliberation |
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| Number of records: 10 |
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- 5/10/2024 -
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Align Technology Inc. (ALGN) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Align Technology Inc. (ALGN). During the week, the ALGN dropped -16.17 points, or -5.62%, and closed at 271.70 on Friday, May 10, 2024. Weekly volume was -20% below average.
ALGN is a member of Health Care Supplies Industry. Health Care Supplies is the third most oversold industry. 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 downtrend had started on September 23, 2021 at 737.45 and reached 172.05 on November 3, 2022. ALGN lost 565.40 points, or 76.67%, in 58 weeks. The chart has formed a Descending Triangle chart pattern. The price is near the trend resistance line (273.53). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
 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 (339.60) 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 technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 263.99 on May 8, 2024. ALGN lost 71.41 points, or 21.29%, in 48 days. The chart has formed a Falling Channel chart pattern. The downtrend support line (291.40) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a short-term trend.
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. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
3 |
| Industry |
Health Care Supplies |
3 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
327.49 |
| High Date |
04/25/2024 |
| Low |
263.99 |
| Low Date |
05/08/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Broken Support |
| Resistance |
323.94 |
| Support |
291.40 |
| High |
335.40 |
| High Date |
03/21/2024 |
| Low |
263.99 |
| Low Date |
05/08/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Broken Support |
| Resistance |
380.38 |
| Support |
339.60 |
| Low |
176.34 |
| Low Date |
10/30/2023 |
| High |
335.40 |
| High Date |
03/21/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
172.05 |
| Low Date |
11/03/2022 |
| High |
413.20 |
| High Date |
07/27/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Descending Triangle |
| Status |
Test Resistance |
| Resistance |
273.53 |
| Support |
178.65 |
| High |
737.45 |
| High Date |
09/23/2021 |
| Low |
172.05 |
| Low Date |
11/03/2022 |
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