Dec. 24 at 8:08 PM
$ALAB has quietly gone from a former leader in a pullback phase to one of the most interesting weekly structures I’m tracking right now, and here’s why:
If you look left on the chart,
$ALAB has a very clear personality. This is a stock that tends to make larger moves after breaking out of consolidation ranges.
when it’s ready, it moves, and it usually moves with intent. That historical behavior matters to me because it frames expectations. I’m not trying to force something that doesn’t align with how the stock has acted in the past.
From a fundamental standpoint,
$ALAB also checks boxes, which adds another layer of conviction. But what really caught my attention was how price behaved after pulling back roughly 50% from ATH's.
Instead of collapsing through major pivots, it found support at two very important levels: gap support and the April 4th AVWAP lows......
Read More >> @Economist8
