Align Technology Forecast and Stock Analysis
Technical ALGN stock analysis for February 15, 2019.
Align Technology gained 1.68% in the last trading day, rising from $250.75 to $254.96 The price has risen in 6 of the last 10 days and is up by 4.49% over the past 2 weeks. Volume fell in the last day by -279 120 shares, and in total, 821 291 shares bought and sold for approximately $209.40 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ALGN stock was $254.96. This is 1.68% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.71% from a day low at $251.39 to a day high of $255.68.
30 day high of the ALGN stock price was $259.93 and low was $195.38.
90 day high was $259.93 and low was $177.93.
52 week high for the Align Technology - $398.88 and low - $177.93.
Align Technology lies in the upper part of a very wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $258.54 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 11.17% during the next 3 months and, with 90% probability hold a price between $219.86 and $287.42 at the end of this period.
Only positive signals in the chart today. Align Technology holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $248.17 and $221.00. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 07, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Align Technology finds support from accumulated volume at $248.95.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $4.29 between high and low, or 1.71%. For the last week, the stock has had a daily average volatility of 3.05%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $245.18 (-3.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from pivot bottom found 6 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.