Based on the current market data and recent analyst reports, here's a concise analysis of ALGN's trading outlook:
Technical Analysis
The stock is currently trading at $212.03 with a post-market price of $212.40, showing relatively weak momentum with an RSI of 41.05, indicating neither overbought nor oversold conditions. The stock is trading below its 20-day moving average of $221.21, suggesting short-term bearish pressure.
Recent Performance & Analyst Sentiment
Recent analyst actions show mixed sentiment:
- Morgan Stanley lowered PT to $272 (25.95% upside)
- Evercore ISI raised PT to $260 (20.39% upside)
- Needham maintained Hold rating
- Jefferies lowered PT to $260 (10.79% upside)
Key Support/Resistance Levels
- Fibonacci Support 1: $211.07
- Fibonacci Support 2: $205.63
- Fibonacci Resistance 1: $228.69
- Fibonacci Resistance 2: $234.13
Latest Financial Performance
The company reported Q3 2024 revenue of $977.87 million with a net profit of $115.96 million, showing modest growth compared to the previous year's figures.
Sell Recommendation
Given the current technical weakness, trading below key moving averages, and mixed analyst sentiment amid recent price target reductions, selling ALGN at current levels appears prudent. The stock shows limited upside potential in the near term, with multiple analysts lowering their price targets recently.