ALNY - 3rd Wave Could Be Impulsive
ALNY has been printing 2 corrective pattern separated waves and following an upper wicked shakeout reversal now appears to be entering a third wave that could potentially see a change up to become impulsive.
As we've seen many times now the fast wick up followed by impulsive downside is the BIG clue the trend is changing and also that it may become impulsive.
This will probably break through the 50MA soon and potentially have a lot of downside as I have shown on a previous thread this can potentially be the top of a MAJOR bear market moving through Distribution.
Bearish RSI divergence is also signalling further downside.
Not advice.
As we've seen many times now the fast wick up followed by impulsive downside is the BIG clue the trend is changing and also that it may become impulsive.
This will probably break through the 50MA soon and potentially have a lot of downside as I have shown on a previous thread this can potentially be the top of a MAJOR bear market moving through Distribution.
Bearish RSI divergence is also signalling further downside.
Not advice.
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