Align Technology is a global medical device company that is changing lives through better smiles. It has achieved the 9 Millionth Invisalign Patient Milestone. Q3 total revenues for Align Technology were up 20.9% year-over-year to a record $734.1 million. In 1997, five employees in a small duplex in Redwood City, California, founded Align Technology with a simple concept in mind - how to leverage technology to straighten teeth. Just a few years later in 1999, Align Technology pioneered the invisible orthodontics market with the introduction of the Invisalign system and soon launched a large U.S national advertising campaign. By 2001, Align had manufactured one million unique clear aligners, helped treat hundreds of patients and trained over ten thousand doctors.
Our proprietary trading system went long on Align Technology at 324.43 and the position is protected with a stop loss at 298.41. The current price is 469.56 which would amount to a profit of 31%.
The technical outlook for this stock is positive with the current price 44% above the rising 200 day moving average, currently at 262.61. The 14 day relative strength index is at 86% which is in extremely overbought territory, therefore one should expect a certain amount of profit taking to take place in the near future. New long positions could be entered after the current overbought technical state has become unwound.