Registered User
Joined: 10/7/2004
Posts: 2,181
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Just based on the chart; appears to be in the bottom of the channel and building for a leg up.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Hi tobydad. You may be right with your interpretation, but playing devil's advocate I want to find any negatives that I see and weigh them against the positives. I'm looking at the two most recent previous price levels similar to the current range when price came down to slightly below the 2 level, early '05 and early '06. In both of those cases when price dipped below 2 level ALTI very quickly accelerated to the upside on high volume. Now in the most recent trip below 2 on 3/11/08 price did move upward but it was on poor volume and the move was also weak compared to the previous tests at similar level. Since then price has drifted back down and moving sideways for several weeks. My guess is that the 2 level of support is much weaker now and if price breaks below 2 in the near future odds will favor a significant move below 2. But I will say that even it moves from here only back up to the most recent resistance of 2.75 area, that would be a nice short term trade, and if it were to break that resistance on high volume then all bets are off for me on a move below 2.
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Registered User
Joined: 10/7/2004
Posts: 426
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fpetry, you might find your answer soon, as most channel's break up or down after 5 tests and we are nearing that now.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Booker, did not know that about 5 tests on channel....learn something new every day, thanks for tip, I need to learn more about that. Cheers.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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All EMA lines are tight. Short term stochs are pointing up.
A move (in some direction) is imminent.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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fpetry,
Thanks for your insights. Good thoughts, I'll be on the lookout.
My first buy on this was at 2.12 so I'm already good for a little over 10%. Not earth-shaking but I'll take it inside a month. 10% a month is not bad for my goals. If it goes to 2.75 that would be just great.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Revenue growth last 4 qtrs 84%
5 yr Sales Growth 140%
Relative Strength vs SP500 +70
This may be as cheap as you're going to buy this for a while.
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Registered User
Joined: 5/26/2008
Posts: 2
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Never try to catch a falling star.
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Registered User
Joined: 9/22/2005
Posts: 849
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ALTI has tested he bottom of it’s channel every day since Monday and backed off about 0.07. It looks to me that it can’t make up it’s mind what it wants to do.
If it finally makes up it’s mind to rise to higher prices, there is strong resistance at about 2.40. This would result in a gain of about 14%.
I like more potential profit before entering a trade.
Bulkowski says that channels like this one break to the downside 55% of the time.
I’ll pass on this one.
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Registered User
Joined: 9/22/2005
Posts: 849
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ALTI has tested he bottom of it’s channel every day since Monday and backed off about 0.07. It looks to me that it can’t make up it’s mind what it wants to do.
If it finally makes up it’s mind to rise to higher prices, there is strong resistance at about 2.40. This would result in a gain of about 14%.
I like more potential profit before entering a trade.
Bulkowski says that channels like this one break to the downside 55% of the time.
I’ll pass on this one.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Ugh, getting to not like the looks of it. If it goes below 2.06, abandon ship. If it stabilizes along here, I'd keep a close eye on it.
We'll see, won't be the first time I missed a call like this.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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ALTI hits 38.2% Fib level on 2x volume today before pulling back.
I've been called crazy before but I'm staying in...for now.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Well, glad I had tight stops. Not the first time I've been wrong...wish it was the last.
On to the next trade.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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OK, if this clears today's high, it may be the right time.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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20%+ gains in the last two weeks. I'm pretty persuaded this is one to keep on your watchlists. At least, I'm enjoying it.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Up 13% since my last post. Are you on the ride with me? Looks like it's looking for more.
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Registered User
Joined: 12/7/2004
Posts: 393
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After recently signing a couple contracts ALTI's mgn seems to be getting it's act together. Tobydad is right about this stock imo.
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Registered User
Joined: 9/22/2005
Posts: 849
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Toby dad’s right (as usual) about ALTI. I wish I had believed him in early July.
Nevertheless, it looks like there may be significant potential here. There is resistance at about 3.80 (34% gain from 2.84) 4.75 (67% gain from 2.84).
It may be late, but I’m going to jump in with a tight stop.
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