ALA was one of the hottest stocks of 2023, moving off it's January 9 low in 2023 and rallied hard into 2024. It tried 6 times in 2024 to break through the 18.5 cent mark, since this rejection it has pulled back into the 'golden Buy zone' between 50% and 61.8% Fibonacci levels. Added to the good technicals for ALA, If you see the blue dotted line on this daily chart, that is the 200ema where the stock has found good support. The maroon dotted line is the 50ema. Moving forwards, we are in all likelihood going to see a retest of the 18.5 cent level and accompanied with positive biotech news with a bit of luck over the coming months we should push through this resistance. Cheers, Safe trading. (a good time to accrue some of this stock at these prices)
ALA Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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