GOOD MORNING! Nice to start the morning with ignoring 4 baiters haha! If my analysis is rubbish feel free to ignore ME? Save yourself the pointless post...I believe less is more.
ALC TECHNICALS:My probable upside pattern I have spotted is the classic
DOJI at a real key technical level. Doji's indicate reversals and many people wait on the next day for confirmation. I personally like buying the DOJI day however I took eyes off the stock from 3pm to 4pm missing the candle formation.
Today, I may consider taking another entry as I believe this has the make-up for the 23c+ retest. Signs of early volume especially a wipe of 20c sellers would indicate very bullish moves coming ahead in the short term.
We've already washed out a good 5+M in volume from the 18c capital raise. If all progresses well we won't be seeing prices going much lower IMO.
View attachment 1834957Just look at all the bottoms it's had at 19c? 1 pip higher than C.R levels. The buyzone is heavily congested meaning pullbacks would be hard and just as hard to get a fill depending on where you're queued.
Confirmed breakouts = stocks that pull back into PREVIOUS resistance levels, that are showing signs of acting as new support. When these levels hold, they reclaim previous highs creating a new breakout.
ALC DISPLAYING THE PATTERN now it's a waiting game for the
NEWS CATALYST of
Buy The Rumour Sell The News ie acquisition/partnership to come very soon
GOOD LUCK HOLDERS!
