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Astera Labs, Inc.
Long

$ALAB Forming a Megaphone Pattern

167
ALAB has seen a lot of volatility as of late. I took a position in it and was stopped out for a loss due to that volatility.

I may be too fixated on this name, but I want to get involved as I think it has a chance to run to previous highs. I thought it had formed a cup with handle pattern, and I got involved on Wed. June 18th only to get stopped on Monday, Jun 23rd. I have been watching it since.

Now it appears it is forming a megaphone pattern. These patterns usually resolve in the direction of the last trend. In this case that trend was up. I like too that the 50 DMA (red) is in an uptrend. I have an alert set on the upper trendline resistance area. Should that trigger, I will look for a good risk reward entry.

If you like this idea, please make it your own and follow your trading plan. Remember, it is your money at risk.
jaxdog
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I am under no obligation to post any action or update to any idea.

Follow me on "X" where I post more content.
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Chart PatternsDIATechnical IndicatorsIWMQQQSPDR S&P 500 ETF (SPY) Trend Analysis

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Chart PatternsDIATechnical IndicatorsIWMQQQSPDR S&P 500 ETF (SPY) Trend Analysis
jaxdog
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I am under no obligation to post any action or update to any idea.

Follow me on "X" where I post more content.
Aussi sur:

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.