Figure 1: ALI Price Chart
Information:
Date Bought: September 21, 2010 Buy Price: 17.48
Remarks:
I was planning to buy ALI at 17 or near its support line, but because it opened at a higher price than the previous day, I was force to readjust and buy at 17.48 for a possible Hit and Run pattern. But unfortunately I never expected that there are still lots of sellers even thou ALI is at oversold which depleted the price momentum on that day and force ALI to close near its low. Luckily being at oversold level, ALI was still able to hold on to its support. Right now the previous two trading days are inside day candlestick patterns which is an indication of a stock at consolidation. I am expecting ALI to resume its upward move soon.
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