As of May 22, 2026, ALGM (Allegro MicroSystems, Inc.) is in a uptrend state on the monthly chart, with a confidence level of 72%. Key support is at $40.0 and key resistance at $52.5. Monthly breakout and vertical impulse to ~$52, followed by a pullback; latest close ~$45.98 remains well above EMA50/EMA100 with RSI ~63.
Bullish continuation: the move is likely an Elliott Wave impulse where the recent surge is Wave 3 and the current pullback is a Wave 4-type consolidation; price holds ~$40-42 and later attempts a new high above the ~$52-53 swing high.
Deeper correction: volatility cools into a larger Wave 4 / post-breakout retest; a break below ~$40 triggers a deeper mean reversion toward the breakout base and rising EMA50 zone before the next attempt higher.
Monthly close above $49.00 (reclaim of the recent pullback zone) with follow-through
Monthly close below $39.50 (loss of breakout structure + likely break of short-term trend support)
Start near the breakout retest/support (~$40-43), add on a deeper breakdown-to-retest into prior congestion (~$36-39), heavy add near the former base/MA cluster (~$31-33) where trend would need to re-prove itself.
Trim into prior ATH/extension ($52-60), trim more if Wave-5 style extension pushes to new fib extensions ($60-72), and consider full exit if price becomes multi-year stretched ($72-90) relative to the base and long MAs.
As of May 22, 2026, ALGM (Allegro MicroSystems, Inc.) is in a uptrend state on the monthly chart with 72% confidence. Monthly breakout and vertical impulse to ~$52, followed by a pullback; latest close ~$45.98 remains well above EMA50/EMA100 with RSI ~63.
On the monthly timeframe, ALGM has key support at $40.0 and key resistance at $52.5. The most likely scenario (bullish) targets $52.5 and $60.0, with a revert level at $41.5.
ALGM (Allegro MicroSystems, Inc.) is currently classified as uptrend on the monthly chart, with 72% confidence. Confirmation requires: Monthly close above $49.00 (reclaim of the recent pullback zone) with follow-through This would be invalidated by: Monthly close below $39.50 (loss of breakout structure + likely break of short-term trend support)
The most likely scenario (bullish) targets $52.5 and $60.0, with a revert level at $41.5. The alternative scenario (bearish) targets $36.0 and $31.0.
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