Yes ALRY could go up. Actually expect it, when the .07 to .09 stall channel reaches the 6 to 9 day timing, on the 3 up 3 down pattern.
I wouldn't call the pattern stall channel a consolidation period, as much as a decision period. Is the current stock price, exceptable to me (the retail herd)? They are eveluating ALL the PR story info, run high price & retrace PPs, at this time. To pick a new stock value, after the PR cycle news.
As long as it is acceptable, the PPs will channel. As you see buy pressure in the CMF increase or the aroon lines moving parallel, you know accumulation is occuring.
Normally if the CMF buy pressure and parallel aroon lines come at the stall channel time, the retail herd is accumulating on their emotional expectations.
This would indicate it should continue up. Distribution would indicate a negative retail mindset and produce a decline after the stall channel.
Knowing any chart pattern norm's help you judge the expected retail actions, in the trade.
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