Bullish Technical Setup provided by ALEC / Through 26NASDAQ:ALEC
Hey Guys, today i´d like to showcase you a sharp ooking Long Setup for a shorter time frame.
We are looking here at an uplifting and trending Bio TECH Stock that has shows previous Strenght when the market had its weakness.
Alector, Inc. operates as a clinical-stage biopharmaceutical company. They are developing therapeutics for the treatment of neurodegenerative diseases including frontotemporal dementia (FTD), Alzheimer's disease, and Parkinson's disease.
No real profits are yet achieved for the Company but it still has a solid looking balance sheet.
ALEC had a appropriate Consolidation Phase last week where it bounced back multiply times from the 26$ Resistance Level.
Looking at the Hourly the Stock set ups very well it its given Range
The Moving Averages dispaly that the Stock should be ready for a breakout expansion with a confirmation from high Volume following through.
My Entry would be at 26.10 to not get trapped.
Targets are 30, 32 and 36
I´d set my SL at LOD and then trail it with a 15min candel upwards to not give back any gains.
This is only my opinion on technical Analysis and not a buy or sell recommendations. Do your own research before jumping into a bandwagon.
Please leav me a like or a comment if you want to see more of my Analysis !
It would mean a lot to me and id´be greatly appreciated.
Thanks,
Sebastian - TradingExperts EU
