Align Technology has trended steadily higher for years. Now, it may be poised for a continuation to the upside after 4-1/2 months of consolidation.
The main pattern on ALGN’s chart is the ascending triangle with a top around $610. A breakout through that resistance zone could bring fence-sitters off the sidelines.
Second, notice the bullish price action around quarterly results. It gapped higher on February 4 and tried to do the same on April 29. Momentum was slowing the second time, but now it’s had some time to pause and squeeze into a tighter range.
Another potentially bullish event is the cross of the 8-day exponential moving average (EMA) above the 21-day EMA earlier in June. Notice how price also found support at the 50-day simple moving average (SMA) around the same time.
Finally, consider medical-technology peers like
EW
, Intuitive Surgical and
DHR
. They’ve quietly broken out this month following strong results last quarter. The group seems to be under accumulation, which could place ALGN next on the list for new highs.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
The main pattern on ALGN’s chart is the ascending triangle with a top around $610. A breakout through that resistance zone could bring fence-sitters off the sidelines.
Second, notice the bullish price action around quarterly results. It gapped higher on February 4 and tried to do the same on April 29. Momentum was slowing the second time, but now it’s had some time to pause and squeeze into a tighter range.
Another potentially bullish event is the cross of the 8-day exponential moving average (EMA) above the 21-day EMA earlier in June. Notice how price also found support at the 50-day simple moving average (SMA) around the same time.
Finally, consider medical-technology peers like
EW
, Intuitive Surgical and
DHR
. They’ve quietly broken out this month following strong results last quarter. The group seems to be under accumulation, which could place ALGN next on the list for new highs. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.