ALLTThe WAE is wanting to touch the 10 line, look what its done in the past.
The RSI7 is wanting to bust up through the 30 line, look what its done in the past.
ALLT trade ideas
trendline analysis judging by its history this one will go lower before it sees new highs, trendlines dont lie! dip is entry is at 11 stop loss 9 and target 15! goodluck :)
$ALLT Allot LTD 10% Upside within Fib Channel
Potential long entry above $10.30
target price $11.50
indicators bullish
Measured move target
Historically Channeling Stock - Buying the BottomSimple 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!
