ALLE ( Daily)
Potential Wolfe Waves 5.
Overthrow possible, but candle behavior hints at hesitation and turn, with some volume.
OBV weakening.
RSI bearish divergence.
AB=CD 50% retracement, ETA (25/12)
Right Shoulder formation, a possibility.
This recent IPO Found some support in $48-49 area after a controlled pullback from double top @ $55ish area. Uptrend is still intact from low $40ish area which was the sell off bottom after company became public.
This security company is component of S&P500 and with spy building an upper level base in front of highs and preparing for break up this stock could be...
