The linear regression chart from the 12.5c. sp low on 20/04/20 to the 72c. sp high on 15/09/20, generated an UPPER channel range of 30.5c., and a LOWER channel range of 10c.
From 15/09/20, KEY down side horizontal SUPPORT/RESISTANCE levels are forward looking (extrapolated), PREDICTIVE in nature, and (generally) will be the elements of that (30.5c.) range, including range mid points.....the first of which was 57c.
Key (down side) horizontal SUPPORT @ 41.5c. was tested, and re tested , prior to succumbing to further selling pressure....... as was 31.5c.......21.5c......& 11.5c.....and their relative range mid points...26.5c.....16.5c....& 6.5c.
In conjunction with the WEEKLY lr chart, the AL3 share price is a set up for a CONSIDERABLE break to the up side (IMO).
Cheers.....and keeping in mind, when key horizontal support/resistance levels are being tested, the CLOSING PRICE is the one that matters.
AL3 Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
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