ALGN, BREAKOUT COMING?Hello fellow traders and investors, here's another trade idea.
ALGN has recently formed a descending wedge, if ALGN makes a recovery it offers a 20% ROI.
Technicals:
The Macd indicates that it's oversold
The EMA's are in a downtrend
When To Buy:
When it breaks out of the wedge.
When To Sell:
I recommend selling at its previous high offering around a 20% ROI.
Fundamentals: Align Technology, Inc. engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. ALGN has a P/E of 23, debt/equity of 0, sales growth Q/Q of 28%, an earnings per share growth Q/Q of 30%, an ROI of 55%, and insider transactions in the last 6 months are down 55%.
Rating: 80/100 since their technicals look good and their fundamentals as well it deserves 80/100 however the only reason I didn't rate them 100/100 is that they are in the healthcare business and I don't like trading any stock with affiliations to the healthcare industry however that is my personal opinion and if this setup meets your criteria feel free to add it to your watchlist.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
