May. 13 at 1:36 AM
$ALM
Daily Chart: The corrective phase from the April 17 high at 24.41 increasingly looks like a bullish flag rather than a distributive top.
Today’s candle has strong bullish continuation characteristics:
• Intraday low tested the VRVP POC (~19.9), and buyers stepped in aggressively
• A higher low formed at the highest-volume node
• The sequence of lower highs has been broken
• 8/13/21 EMAs maintain positive slope alignment
VRVP structure remains constructive:
• Strong volume acceptance between 19.5–21.5
• POC acting as key institutional support
• Above 21.55, volume thins considerably, which could allow a fast move toward the April high at 24.41
As long as price holds above the POC region, the technical bias remains bullish. A confirmed breakout above 21.55 would likely trigger continuation higher.
