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Advanced TA SearchArchive
- 5/3/2024 -
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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 -21.15 points, or -6.84%, and closed at 287.87 on Friday, May 3, 2024. Weekly volume was -17% below average.
ALGN is a member of Health Care Sector. Health Care is the second most oversold sector. ALGN is a member of Health Care Supplies Industry. Health Care Supplies is the sixth 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 downtrend resistance line (178.56) 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 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 (333.63) 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. ALGN 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 medium-term trend.
 Weekly Technical Indicators: [See ALGN weekly technical indicators chart]
Weekly technical indicators are neutral.
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 277.83 on May 1, 2024. ALGN lost 57.57 points, or 17.16%, in 41 days. The chart has formed a Falling Channel chart pattern. The downtrend support line (293.04) 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 Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and 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.
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.
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