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Advanced TA SearchArchive
- 5/10/2024 -
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Allegion (ALLE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the Allegion (ALLE). During the week, the ALLE gained 3.11 points, or 2.53%, and closed at 125.99 on Friday, May 10, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -22% below average.
ALLE is a member of Industrials Sector. Industrials is the second 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 (100.46) 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 downtrend had started on February 20, 2024 at 136.91 and reached 120.02 on May 2, 2024. ALLE lost 16.89 points, or 12.34%, in 10 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 119.20 and resistance is at 134.73. 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 12, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See ALLE short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 136.07 and reached 120.02 on May 2, 2024. ALLE lost 16.05 points, or 11.80%, in 42 days. The chart has formed a Broadening Descending Wedge chart pattern.
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.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.24% on Friday. It is 51.25% 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.
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