Technical analysis by greatkub about Symbol ALCX: Buy recommendation (12/2/2023)

It seems like we have completed the impulse wave and entered the correction phase. The correction took the form of a normal B. This correction's C leg exhibits a five-wave structure and concludes with a terminal impulse, marked by a 5x pattern. This suggests that the subsequent wave, following this correction, has the potential to reach a new high within this timeframe. Our risk-reward ratio (RR) is favorable at the moment. If the current level is breached, it would indicate a different scenario, suggesting that the C leg is part of a downtrend impulse wave with a 3x structure.