ALSA Stock Tickeron detected bearish Stock Pattern: Rectangle Bottom on August 20, 2024

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08/27/24

Rectangle Bottom

ALSA - Alpha Star Acquisition Corp

Emerged: 08/20/24

Breakout: $11.56

Price: $12.6

Target price: $11.14

A.I.dvisor detected a bearish Rectangle Bottom pattern for ALSA stock. This pattern was detected on August 20, 2024 . The odds of reaching the target price are 6. The Rectangle Bottom pattern forms when the price of a security is stuck in a range-bound motion, bouncing between support and resistance levels. Two horizontal lines (1, 3, 5) and (2, 4) form the pattern. Consider selling the security short or buying a put option at the downward breakout price level. When trading, wait for the confirmation move, which is when the price falls below the breakout level.

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