ALGN stock registered its 52-week high in September
On September 27, Align Technology ended the trading day at $389.97, up ~0.19% from its previous trading day’s closing price. The stock has been on a bullish trend over the last year. This growth momentum was largely sustained due to the positive investor sentiment around the company’s robust fundamentals, strong market position, and solid quarterly results this year.
Align Technology was trading at its 52-week high of $398.88 on September 25. The stock reported its 52-week low of $180.31 on September 28, 2017. Currently, the stock is trading higher than its 50-day moving average of $374.80 and its 200-day moving average of $325.91.
What’s driving the ALGN stock rally?
Align Technology had registered strong second-quarter results on July 25 after the market closed. However, the stock had registered a decline of ~1.0% in premarket trading the following day and closed down ~5.0% on July 26. Since then, ALGN stock has risen by ~7.4%.
Over the last month, Align Technology has registered a stock price increase of ~2%. Over the last six months, the stock has grown by ~55.0%. Year-to-date, ALGN stock has risen by ~76.0%. Further, the stock has registered solid returns of ~111.0% over the last year.
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