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Williams' Percentage Range (W%R) |
Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive - 5/10/2024 - 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 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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