ALEC has just filled its massive gap in its chart within 1 trading day. It has now nearly completely filled gap and run into support zone at the 23.5 -24 level. The gap will be completely filled at 22.5. I suspect a strong reversal from here back to the 29 level, as most gaps reverse to the next layer of resistance after they've been filled.
Some things are against this trade but technicals do look great for entry .
The company just happens to also be my name :). So, full disclosure, I am anchoring to that a bit ha .
Here's whats against, really quick :
Recent inside selling , June 3rd ( perhaps already priced in )
Short float kind of on high side slightly under 8%
Here's whats for :
Hey Guys, today i´d like to showcase you a sharp ooking Long Setup for a shorter time frame.
We are looking here at an uplifting and trending Bio TECH Stock that has shows previous Strenght when the market had its weakness.
Alector, Inc. operates as a clinical-stage biopharmaceutical company. They are developing therapeutics for the treatment of...