• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing

Let's See How an Upgrade 'Align's with Charts and Indicators on ALGN

TheStreet's quantitative service gives a buy recommendation for Align Technologies and it looks like a dip could be an opportunity for investors.
By BRUCE KAMICH
Jun 25, 2020 | 12:45 PM EDT
Stocks quotes in this article: ALGN

Align Technologies  (ALGN)  was upgraded to a buy recommendation today by TheStreet's quantitative service. Regular readers of Kamich's Korner know that I regularly check the quantitative recommendations for charting ideas. 

 
Let's check out the charts and indicators of the medical device maker Align.
 
In this daily bar chart of ALGN, below, we can see a wide up and down trading range market the past 12 months. Prices were more than cut in half from January to March before rebounding into early June. Prices are above the rising 50-day moving average line and the rising 200-day moving average line. We are very close to witnessing a bullish golden cross of the 50-day and 200-day averages. The On-Balance-Volume (OBV) line makes a decline from January into late March telling us that sellers were more aggressive. The OBV line has improved from late March, but it is not a really strong move to the upside. The Moving Average Convergence Divergence (MACD) oscillator gave us a buy signal in late April but this month has turned lower for a take profits sell signal. 
 
 
 
In this weekly bar chart of ALGN, below, we can see some developing improvement with the indicators. Prices have been in a longer-term downward channel, but prices have recently broken above the upper downtrend line of the channel. Prices are above the now rising 40-week moving average line. The weekly OBV line shows some improvement and is not all that far from making a new high. The MACD oscillator crossed to a cover shorts buy signal in early May and is now close to crossing above the zero-line for an outright buy signal. 
 
 
 
In this first Point and Figure chart of ALGN, below, we used daily price data. This chart suggests a pullback or correction to the $233 area.  
 
 
In this second Point and Figure chart of ALGN, below, we used weekly price data. Here the chart is suggesting a $313 price target. 
 
 
 
Bottom line strategy: Aggressive traders could look to buy a dip to around $240, if available, risking a close below $225.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Health Care Equipment & Services | Quant Ratings

More from Investing

The Markets Also Rise Quickly

James "Rev Shark" DePorre
Mar 1, 2021 4:22 PM EST

Fear of missing out permeated the day as the indexes bounced back.

NantKwest's Charts Are Extended When Compared to the Popular Moving Averages

Bruce Kamich
Mar 1, 2021 3:15 PM EST

Let's stand aside for now and see how things unfold.

Wendy's Charts Just Made Me Lose My Appetite for Investing

Bruce Kamich
Mar 1, 2021 2:21 PM EST

Here's why diving in now might lead to heartburn....

The Battle Over Cannabis Operator Verano Holdings' Stock

Debra Borchardt
Mar 1, 2021 2:00 PM EST

Sol Global and MMCap are fighting in court over who owns or owes what of the company's shares.

Is Chevron Finally Ready to Make an Upside Breakout?

Bruce Kamich
Mar 1, 2021 1:44 PM EST

Let's check out some charts on the energy giant.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:09 AM EST GARY BERMAN

    Monday Morning Fibocall for 3/1/2021

    Always a good idea to know where our bounce zones ...
  • 11:51 AM EST REAL MONEY

    Watch Bob Lang and Doug Kass Discuss Short-Selling!

    Bob Lang and Doug Kass with an engaging and educat...
  • 11:32 AM EST JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Navigating a Market Correction
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login