ALN seems to have made a comeback now that the rights issue is...

ALN seems to have made a comeback now that the rights issue is over. The price has bounced off $5.50 (incidentally was a 61.8% fib retracement) and it hasn't looked back, despite the wider market falling.

Moving Averages have crossed over into buy territory, and the other technical indicators are looking good (DMI about to cross etc)

Went long ALN at $5.75. Expecting resistance at $6.03 and further up at $6.37 (23.6% and 38.2% respectively on a reverse fib set using $5.50 low and $7.77 high)

Any comments and opinions welcome




Cheers,

Christian