Historically Channeling Stock - Buying the Bottom

NASDAQ:ALLT   Allot Ltd.
Simple but effective: to add to the general idea of buying a stock that's in the extreme range of a channel, this stock is continuously ranging within channels for the last bazillion years. Since we're nearing a bottom and the stock is in a general uptrend anyway, that compiles to three solid reasons to consider going long on this stock.

Reasons to buy at current price:
- Buy near the bottom
- Buy on the uptrend
- Buy the confirmation of historically validated plays

Potential objections:
- US Market is overextended
- Channel is not consistent enough
- Previous data is scarcely relevant as market conditions were different
- Not analyzing this stock fundamentally at all, adding uncertainty and thus risk

My verdict:
- I will still go long on this stock, but not with an unusually large position size. Just scraping off of a pattern with the idea of having an edge on the market.

Happy trading!