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Align Technology said it is partnering with Arizona State University and Sun Devil Athletics to advance student career development and research collaboration. The stock is down 2.9% on the day at $162.9.
Align Technology announced a collaboration with Arizona State University and Sun Devil Athletics. The partnership is designed to create opportunities for student career development and broaden research collaboration. The company operates in the medical instruments and supplies sector and employs 20,275 people.
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Price broke under the weekly low at $167.78 and is setting a new low for the week. Shares of Align Technology remain under pressure, with the daily chart keeping a broad bearish structure as price trades below its MA-20, MA-50, and MA-200. The move lower is starting to become stretched, as Stoch RSI is in oversold territory, limiting additional downside in the near term.
Traders should watch for a close above $167.78 to gauge whether buyers are regaining control. The recent break below that level means the stock is making new lows for the week. Even though the past week brought a sharp move lower without a sustained trend, the probability of further downside over the coming trading week is more than 80%, with less than 20% chance of a move higher and an expected range between $156.49 and $169.3. A close above $167.78 would show buyers are willing to follow through, while a drop below the recent range would show the move is being faded. On the weekly chart the longer-term picture stays firmly negative.
Earlier, analysts noted that Align Technology faced ongoing downside risk amid a broadly negative technical outlook, even as corporate initiatives provided some support. The current weakness confirms this prevailing scenario, with traders now focused on whether the $167.78 level can act as a trigger for any potential recovery.