After retarcing down to the 50% fib level & retesting it on a few occasions, it has commenced forming a H & S pattern. A break & close above $0.24 will be bullish.. Wait patiently..no FOMO please. These trades depend on confirmation of the price action so patience will in fact assure a higher probability of success.
Alcidion has been having a good run before recent pull back. It's now broken back above its old support level and there is around 10-15% back to its previous breakout high. Barchart technical indicator is showing as a strong buy and current demand is 235 buyers for 10,765,654 units vs 71 sellers for 3,797,123 units. All indicators are pointing up so fingers...
With another major government contract under their belt in the last month along side the MKM acquisition and continuing ALC fundamental growth, the chart's technical's are starting to really line up.
Major resistance points at 7.4c 9.3 and 10.5. Flag with a price target of 8.2c will need sustained volume to clear overhanging stock in the mid 7's.
Looking pretty...
Watching for the break. Fundamentals on this stock already are stellar, Cash Flow Positive and significant news is near term.
Very over sold and capitulation sells last few sessions have been purely retail (Entire broker report from previous week shows only retail selling)
Watching for a high volume confirmation breakout of down trending fork. Fundamentals are amazing on this one. Cash flow positive, has plenty of growth ahead of it and likely entry to the Americas on the card in 2018.
Definitely one to watch.
ALC may have broken out of a downtrend line (blue). It gapped up on Friday on decent relative volume. May back test the blue line and/or continue upward after consolidating.
