ALI refuses to go down, Kijun Sen may attract price to move up further

ALI refuses to go down and found support at 23.6% Fibonacci Retracement level with the potential to hit 26 per share. This is very near our 38.2% Fibonacci Retracement level and at the same time this is where our Kijun Sen line is. Observe that this red line is moving horizontally. We have seen some other stocks whose price was attracted by the Kijun Sen once it is moving like this. Are all these indicators enough for ALI to move up further?

Looks like the Bullish One White Soldier on ALI that we have seen last December 16 is really doing its job in securing the perimeter.

RSI or Relative Strength Index is still in the middle of overbought and oversold level.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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