I am bullish on ALT due to confluence. Option Open Interest shows a wall at £12.00 and $16.00 . EMA 9/50/200 consolidating around 13.50-14.50 where the down trend line meets all 3. As well as the up trend line indicating a pressure point. MACD is giving a buy signal. Bollinger Bands and Donchian Channels are both funneled into this pressure point (both suggest a small drop as price action is at the upper deviation line of both indicators). Getting in on the 20th Apr 2021 looks to have been an ideal entry point if a break out is to pop in the coming week. There is a chance for price action to drop towards the $12.00 before going back up to $16.00 (hopefully).
- Just My Opinion -
- Just My Opinion -