ALI on 20-day SMA line and 38.2% Fibonacci Retracement level support lines

Currently ALI is hovering just above the support levels 20-day SMA line and 38.2% Fibonacci Retracement level. As long as support will hold, ALI may be able to reach the higher end of the range. But one should also monitor how strong the 100-day SMA line may be. It can be seen on our daily chart that this line was tested two times but bulls failed to break it.

On the other hand, the weekly chart showed a Doji partnered with a relatively large green candlestick but since this is not in a downtrend, possibility of a sideways move will occur.

Caveat!

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