ALQA - Grade: B

ALQA - Grade: B

Key Levels: 2.06(O), 2.35, 2.6(B), 2.88(R), 3.13

Out of play, from the daily below: 2.06

We have momo picking up above: 2.35 - meaning out of play below 2.35 today

Breakout is above: 2.6

Large Resistance at: 2.88

Above 3.13 we could go parabolic but volume would need to exceed ~400k volume per minute

ALQA above 2.6 we upgrade to a B+, consolidation through lunch with no technical breaks could push us towards an A

A close 2.6 will put us in the running for a swing, a close below this we do not want to enter on as it takes on much more risk.

ALQA is out of play as this is unable to hold support 2.35 and has a higher probability with this movement to have rejected from 2.6 daily setup.

We will allow consolidation above 2.06 and keep an eye on 2.35 as the indication for potential if the expected bottom is not tested.

OWChris WingfieldComment