ALSK bounces off of resistance 3x; strong bearish momentum
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Hello Traders!
After hitting and bouncing off of the resistance at 2.81 three times in a row, the price of ALSK is picking up some strong bearish momentum again. The MACD looks very pessimistic and indicated divergence on the previous top. The RSI 14 looks clearly bearish as well, but a little bit too close to oversold. The 50 SMA might be over the 100 SMA and the 100 SMA over the 200 SMA , but the price recently broke through the 50 SMA without effort and that's going to happen as well with the 100 and the 200 SMA , which have not acted as support/resistance in the past. I expect the price to bounce off of the 2.25 support/resistance before crossing under it, which is the sell signal. The first goal at 1.81 will most likely be reached and I am fairly confident that the price will reach the second goal at 1.61 as likewise.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
After hitting and bouncing off of the resistance at 2.81 three times in a row, the price of ALSK is picking up some strong bearish momentum again. The MACD looks very pessimistic and indicated divergence on the previous top. The RSI 14 looks clearly bearish as well, but a little bit too close to oversold. The 50 SMA might be over the 100 SMA and the 100 SMA over the 200 SMA , but the price recently broke through the 50 SMA without effort and that's going to happen as well with the 100 and the 200 SMA , which have not acted as support/resistance in the past. I expect the price to bounce off of the 2.25 support/resistance before crossing under it, which is the sell signal. The first goal at 1.81 will most likely be reached and I am fairly confident that the price will reach the second goal at 1.61 as likewise.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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