Align Tech Update | Investing.com

Align Tech Update | Investing.com


Align Tech Daily Chart.

Align Tech Daily Chart.

Shares of Align Technology Inc (NASDAQ:) are moving well today. The stock’s 3.5% gain places it in the S&P 500 Indexes top 5 gainers list. This powerful move extends the stock’s lift off major support to 14%. We believe ALGN is setting up well for a fresh rally leg.

Support near the November highs has held up well this year. It has provided support at the January and multi-week March lows. The November peak was reached a few weeks after the stock’s blowout Q3 drove it 35% higher. ALGN entered extremely overbought territory at the November highs. Currently shares are well below neutral (daily MACD) despite remaining within 12% of February’s all time highs.

We consider ALGN a fairly low-risk buy near current levels. On the downside, a close back below $544 would violate the April lows, sending a clear warning sign that more consolidation is ahead.

Earnings are due April 28.

We highlighted ALGN back in mid July: https://twitter.com/GarySMorrow/status/1283417136346660864?s=20. The stock is up 83% since the July 15 close.

Note: We have no position.

You can read Gary S. Morrow’s original post here.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: