AFW trade ideas
Align sitting on critical support, 40% downside potential.Huge disappointment for ALGN investors but it is something that they have become accustomed to, Oct 18 the stock seen a similar decline from which it recovered eventually. They major decline was brought about by guidance which was very negative as Align CEO Joseph Hogan said there's still a broad-based growth story at ALGN, one the company needs to do a better job sharing with investors. He said Align continues to see growth around the globe except in China, which is the company's second-biggest market. While Align had forecast 70% growth in China, the company is now expecting only 20% to 30%. Hogan said it's not a competitive or operational problem in China, but more of a consumer backlash, one he expects will rectify itself.
When asked specifically about Chinese competitors, Hogan said Align hasn't seen any significant changes in market share. Align operates in the higher end of the market, Hogan said, and its market share is usually stable. Source the street.
Trade setup Short below $180, support very limited to $120-$100. Its is not ubthinakle as competition and trade will continue to weigh on the stock.
AVERAGE ANALYSTS PRICE TARGET $268
AVERAGE ANALYSTS RECOMMENDATION overweight
P/E RATIO 39
SHORT INTEREST 5.3%
Align Technology, Inc. engages in the manufacture, design, and marketing of global medical devices. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen and assist products, and vivera retainers along with training and ancillary products for treating malocclusion. The Scanner and Services segment comprises of intraoral scanning systems and additional services available with the intraoral scanners that provide digital alternatives to the traditional cast models. The company was founded by Zia Chishti, Brian Freyburger and Kelsey Wirth in March 1997 and is headquartered in San Jose, CA.
ALGN Bull Flag - Credit SpreadALGN breakout,
Putting on a credit spread I want to be a bit conservative.
Earnings are around the corner so this trade may destroy the position however it does look like its having a near term breakout
255/260 - $1.07/3.93 loss
Profit target $60-65
Head and Shoulders Breakdown to $240.33Huge insider selling + great setup. Looking to break 272.43 for entyr, target 240.33, stop signal 287.76. Use idea at your own discretion and risk.
$ALGN OPTIONS ACTIVITY ALERT 50% UPSIDE TARGET****** OPTIONS ACTION CAN BE A GREAT INDICATOR OF FUTURE ANNOUNCEMENTS OR A EARNINGS SURPRISE, FRIDAYS OPTIONS ACTIVITY IN NASDAQ:ALGN IS HIGHLY UNUSUAL GIVEN THE UPSIDE TARGET OF $430 TRADED WHICH IS 50% HIGHER THAN THE CURRENT PRICE, THE EXPIRY IS 2020 BUT IT WOULD STILL BE A DRASTIC MOVE. ALGN HAS FALLEN OUT OF FAVOUR AND HAS QUITE A HIGH VALUATION BUT IT IS STILL IN A FANTASTIC GROWTH MARKET.
ALBN double top MACD diverging downALGN formed a 10-day double top, MACD diverging down. Will look at options first thing Friday May 17, 2019 MACD says price sbaround $315. OTM May 24 315 puts traded at close on May 16 around $1.65.
$ALGNAlign was a darling stock of 2018 but the bigger the gains the greater the fall. It seems that the correction has finished and has now made a nice move back up to the 200ma. We are positive on the stock and out bullishness will be confirmed by a move above $305 . In our image conscious society Align has no trouble attracting customers worldwide.
Short ALGN on B-Wave rallyI posted a short setup on ALGN back in June of 2018. The stock had just broken out a Wave 4 triangle and was grinding higher in Wave 5. I took a short position on a trendline break at $340, which in hindsight was an early entry. I held the position for months as the stock chopped sideways to higher, but was finally rewarded when ALGN gapped lower to $230 in October. I covered my short on the initial spike and put ALGN back on my long-term watchlist, assuming that I would get another opportunity to short following a corrective rally.
It is now 5 months later and I believe ALGN is setting up for its next wave lower. The initial sell-off from the high found support around $175 before turning higher. Because the prior sequence into $400 was an impulsive five wave move, I expect a subsequent three wave correction. Look for Fibonacci levels off the high to act as resistance in coming weeks. Also note that the price gap formed back in October will be fully retraced at $290. Initiating a short position at market and looking for a push back to and through $180. I will look to scale into additional shorts on rallies up to $315 and would only change my outlook on a clean break above $350.
Align Technology, Inc.DAILY
currently on a sell off due to the bad news
possible 38.2 fib support
will wait for the price to be stable
RSI 70 resistance
RSI 30 support
CATALYST - finance.yahoo.com
Requires Align Technology Inc. To Close Down All of Its 12 Invisalign Stores and Prohibits Any New Store Openings
NASHVILLE, Tenn., March 6, 2019 /PRNewswire/ -- SmileDirectClub, the market leader and pioneer of doctor-directed, remote invisible aligner therapy, today announced the decision in the arbitration brought by SmileDirectClub against Align Technology Inc. (ALGN) for violations of restrictive covenants among other claims.
SmileDirectClub (PRNewsfoto/SmileDirectClub)
SmileDirectClub (PRNewsfoto/SmileDirectClub)
More
After reviewing an overwhelming amount of evidence, Align was found to have breached the non-compete and other restrictive provisions applicable to the members of SmileDirectClub, including that Align misused SmileDirectClub's confidential information and violated fiduciary duties to SmileDirectClub. The ruling requires Align to close down all of its 12 Invisalign stores by April 3, 2019 and enjoins Align from opening any new stores or providing certain services in connection with the marketing and sale of clear aligners. Moreover, the expiration date of the non-compete provision has been extended to August 18, 2022. Align is also permanently enjoined from using SmileDirectClub's confidential information.
As part of the ruling, Align has been ordered to return its ownership stake back to SmileDirectClub for the price of its stated capital account balance as of October 31, 2017 – a price which is significantly below the fair market value of its investment given the valuation of $3.2 billion that SmileDirectClub obtained last summer. With this order Align will no longer be an investor in SmileDirectClub. This decision has no impact on Align's existing supply agreement with SmileDirectClub through 2019.
tentatively long hereEasy gap fill on market melt-up if it happens. More likely though I think we retrace and look for the inv H&S formation.
Nice Bullish Setup!!NASDAQ:ALGN Buy above 249.57
Please like, comment and follow if you like my ideas. THANK YOU!!!
Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
[ALGN] Phase 4Despite the price has a support (6 weeks) the price is under the 30MM. And the slope of 30MM is starting to be negative. Don't buy for now.
