ALGN Stock Forecast: Why Did The Stock Rose By 30% In A Day?

This ALGN stock forecast article was written by Maria Grishaev, Analyst at I Know First.

Executive Summary

  • Following the announcement of the third quarter 2020 financial results, Align Technology received a major boost in stock price rising from $335.81 to $453.23 in one single day.
  • Quantitative analysis results indicate bullish signals after stock price topped out the moving average line.
  • ALGN deserves a one-year target price of $510, indicating a cautious buy recommendation.

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Top S&P 500 Stocks Performance Report By Day Of The Week By I Know First Evaluation

Executive Summary

Is there a best day to start trading with I Know First AI signals? The purpose of this report is answer this question presenting the results of our live forecast performance evaluation for I Know First AI Algorithm, specifically for S&P 500 Stocks. The following results were observed when signal and predictability filters were applied, picking the top 5 signals out of the 30 most predictable ones. Also, the results were filtered by the day of the week the forecasts were generated and compared with the S&P 500. The period under evaluation is from January 1st, 2019 to April 1st, 2020. The corresponding returns distribution for S&P 500 stocks by day of the week are shown below:

Top S&P 500
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Top S&P 500
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Top S&P 500
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Top S&P 500
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Top S&P 500
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S&P 500 Stocks Package Highlights:

  • No matter the day and the time horizon, the average return of the I Know First Algorithm is always positive.
  • There is a clear increasing trend for returns improvement with the time horizon.
  • Monday and Wednesday had higher returns on the short-term horizons on average.
  • The algorithm results consistently outperform the S&P 500 in every condition.

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