ALI slightly recovered from Monday’s strong -3.26% dip. The stock remains above the key short- and long-term moving averages, though. Moreover, the indicators still have some leftover buying signals. The RSI is flattish in the buying territories. The DMIs and MACD are on buy signs as well, but the momentum is already showing signs of tapering. ALI would likely test its support of 36.95. If this level breaks, the next support level is at 35.88, coincidentally ALI’s 100-d moving average.

Buy when support holds

Weekly target: 37.10
Support: 36.95 / 35.88
Resistance: 38.30

Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.

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