Align Technology Stock Forecast
Red day on Wednesday for Align Technology stock after losing 1.63%
(Updated on Apr 17, 2024)
The Align Technology stock price fell by -1.63% on the last day (Wednesday, 17th Apr 2024) from $305.10 to $300.14. During the last trading day the stock fluctuated 3.58% from a day low at $296.90 to a day high of $307.52. The price has been going up and down for this period, and there has been a -3.21% loss for the last 2 weeks. Volume has increased on the last day by 87 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 559 thousand shares were bought and sold for approximately $167.69 million.
Given the current short-term trend, the stock is expected to rise 20.24% during the next 3 months and, with a 90% probability hold a price between $360.88 and $403.66 at the end of this 3-month period.
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ALGN Signals & Forecast
There are few to no technical positive signals at the moment. The Align Technology stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $315.42 and $314.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -9.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Align Technology stock
Align Technology finds support from accumulated volume at $288.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $10.62 (3.58%) between high and low. For the last week, the stock has had daily average volatility of 4.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALGN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Align Technology to open at $301.52, and during the day (based on 14 day Average True Range), to move between $289.59 and $310.69, which gives a possible trading interval of +/-$10.55 (+/-3.51%) up or down from last closing price. If Align Technology takes out the full calculated possible swing range there will be an estimated 7.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $302.44 (0.77%) than the support at $288.44 (3.90%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Align Technology will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.98. We will update the financials statements for Align Technology, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.20% in the first trading day after earnings release.
Is Align Technology stock A Buy?
The Align Technology stock holds several negative signals and despite the positive trend, we believe Align Technology will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.038 Sell Candidate Unchanged
Predicted Opening Price for Align Technology of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $301.52 ( 0.460%) | $300.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 312.14 | 4.00 % | |
| R2 | 308.08 | 2.65 % | ||
| R1 | 305.58 | 1.81 % | ||
| Current price: | 300.14 | |||
| Support | S1 | 297.46 | -0.89 % | |
| S2 | 294.96 | -1.73 % | ||
| S3 | 290.90 | -3.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 313.53 | 4.46 % | |
| R2 | 304.65 | 1.50 % | ||
| R1 | 302.44 | 0.766 % | ||
| Current price | 300.14 | |||
| Support | S1 | 288.44 | -3.90% | |
| S2 | 273.38 | -8.92% | ||
| S3 | 267.32 | -10.93% |
FAQ
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