Chart of the Day: Allegion (ALLE)

A descending triangle has formed in the chart of Allegion (ALLE) and a trade is likely setting up soon…

Allegion (ALLE) is a global security products company with a portfolio of leading brands, including Schlage, Von Duprin, and LCN. The company will benefit from strength in the electronic products business and a large customer base. ALLE’s cost-cutting measures, dividend payments, and share repurchases are beneficial to shareholders.

Take a look at the 1-year chart ALLE below with added notations…

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