ALGM Potential BreakoutBased on daily chart, the moving average almost forming a golden cross. Then, the weekly chart shows a potential rebound from oversold region.
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1.24USD
187.357MUSD
973.653MUSD
73.228M
About Allegro MicroSystems, Inc.
Sector
Industry
CEO
Vineet Nargolwala
Website
Headquarters
Manchester
Employees
4.687K
Founded
2013
ISIN
US01749D1054
Allegro MicroSystems, Inc. engages in the development and manufacture of sensor integrated circuits (“ICs”) and application-specific analog power ICs. Its sensor ICs enable customers to precisely measure motion, speed, position and current, while its power ICs include high-temperature and high-voltage capable motor driver, power management and light emitting diode driver ICs. The company was founded on March 30, 2013 and is headquartered in Manchester, NH.
LIFT OFFFinally broke the top resistance very strong.
Be careful with Powell in 2 days. Take gainz when you get them!
At resistance$ALGM had great earnings and has since calmed down from it a tad.
At $46-ish seems like it has strong buying under it with that large candle on daily.
$48 is a conservative target and it could hit around and in the $50s.
Focus on RR and size, Powel next week SPY has lots of room.
ALGM - Allegro MicroSystems, Inc.Been eyeing this one. Had a nice move on Thursday, breaking out with a surge in volume. May regret not buying, but decided to hold off with earnings coming up on Tuesday morning. Still one of the top names on my focus list.
ALMG- Trend Reversal Looking at moving average indicators as well as the MACD, Allegro MicroSystems seems to be preparing for a reversal trend looking to retrace back to its original support at 33.00-34.50
ALGM making an Inverse-Head-and-Shoulders. Will it break?ALGM is making an Inverse Head-and-Shoulders and is on the verge of confirming the pattern.
With yesterdays volume it seems like it's ready for a break out.
The measured objective of this pattern would be somewhere around $34.40.
Do keep in mind $31.30 and 32.30 may act as resistance on the way
ALMG : Automotive Semiconductor ManufacturerUptrend following.
Based on EW, currently waiting for end of Ew 2, subsequently Ew 3 start up.
Support at 29.45, CL at 29.
TP at completion of targeted EW 3, TBC.
MASSIVE Volume from $30 SecondaryThis $30 secondary was eaten up pretty quickly, a ridiculous peak was created. This is also bullish sign, I have no planned positions however.
ALGM: A Fabless Semiconductor recently IPOedAllegro MicroSystems ALGM is a semiconductor company and fabless manufacturer of integrated circuits for sensor systems and analyst power technologies. The company’s products are used in the automotive and industrial sectors, and include solutions for developing electric vehicle control systems. All
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