$ALABB Today’s new high surged to 366, and the bulls don’t seem ready to stop
ALABB today straight up printed a new high, up +5.44% intraday. The 4-hour chart moved from 352.6 all the way to 364.1, with a high that briefly touched 366.2, and it closed near the highs.
The key in this move isn’t how much it’s risen, but that pullbacks are met with buying. The low at 349 is held firmly. The recent 15-minute K-line lows have basically been above 363, suggesting the near-term selling pressure has been absorbed fairly cleanly. Price has been side-trading at high levels, exchanging hands, without rushing to dump lower.
The first resistance overhead is 367.6—this is the target area for today’s wave. After an intraday new high, the subsequent trend usually falls into two patterns: either a breakout with volume right away and then continuation, or a period of consolidation and buildup just below the resistance. As long as it doesn’t quickly fall back, the bullish structure is still intact.
My view is simple:
- Big-picture: bullish. Today’s new high reflects the attitude of the capital
- 367.6 is the resistance to watch right now; only a confirmed break and hold opens up room
- 349 is the bottom line. If it breaks below here, the intraday long thesis needs to be撤 (abandoned)
Just because it’s up doesn’t mean it will keep rising endlessly. Before chasing higher prices, decide in advance where you’d admit you’re wrong. I’m bullish, but I’m not buying with my eyes closed.
$ALABB #ALABB
ALABB today straight up printed a new high, up +5.44% intraday. The 4-hour chart moved from 352.6 all the way to 364.1, with a high that briefly touched 366.2, and it closed near the highs.
The key in this move isn’t how much it’s risen, but that pullbacks are met with buying. The low at 349 is held firmly. The recent 15-minute K-line lows have basically been above 363, suggesting the near-term selling pressure has been absorbed fairly cleanly. Price has been side-trading at high levels, exchanging hands, without rushing to dump lower.
The first resistance overhead is 367.6—this is the target area for today’s wave. After an intraday new high, the subsequent trend usually falls into two patterns: either a breakout with volume right away and then continuation, or a period of consolidation and buildup just below the resistance. As long as it doesn’t quickly fall back, the bullish structure is still intact.
My view is simple:
- Big-picture: bullish. Today’s new high reflects the attitude of the capital
- 367.6 is the resistance to watch right now; only a confirmed break and hold opens up room
- 349 is the bottom line. If it breaks below here, the intraday long thesis needs to be撤 (abandoned)
Just because it’s up doesn’t mean it will keep rising endlessly. Before chasing higher prices, decide in advance where you’d admit you’re wrong. I’m bullish, but I’m not buying with my eyes closed.
$ALABB #ALABB
