ASL.ASX Weekly Chart Outlook.

Almost a textbook perfect distribution pattern with what may be considered an UTAD : Up Thrust After Distribution = Potential BULL TRAP. I use potential since we are doing REAL TIME analysis. I have also marked a price support in Red clustering with the support line of the potential distribution pattern. If both are violated decisively, short sellers may be having a huge party with ASL, if already aren’t.

Disclosure : I have no open positions with ASL.ASX

Weekly ASL chart is courtesy of tradingview.com

aslweekly25032018

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