NASDAQ: ALAB — Holding the Golden Zone After a Parabolic Drop

ALAB shows a structure similar to RDDT(see my previous idea) — a newly listed growth stock that gained strong momentum after breaking above its weekly SMA 20 in mid-May.


After reaching an all-time high, the stock started to pull back in late September.

Recently, a sharp parabolic drop drove the price down toward a confluence of supports:
* the previous swing low around $160(red dotted line),
* the weekly SMA 20 (purple),
* and the Fibonacci 0.618 retracement level of the recent rally.

This week’s candle closed bullishly, reclaiming the $160 area and confirming strong demand at this golden zone. The sharp sell-off likely flushed out retail stop orders, providing the base for a potential next leg up.

Overall, this area offers an attractive risk-to-reward setup, with technical supports aligning across multiple timeframes.