ALQ not following through yet. In a relatively bullish market, ALQ continues to under-perform. The closest analog to ALQ could be BSL. Like ALQ, BSL dropped a large amount from around $14.30 down to $10.61. This is a ~ 26% fall. The first signal to go long on BSL was when price traded above the 28-day EMA on Oct 9th around $11.50. BSL is now $15.32.
ALQ could be in the process of forming a base where above average volume indicates accumulation. In retrospect, this is what occurred with BSL. But for now I won't be buying ALQ until we see more strength.
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