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
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