My Neighbor Alice (ALICE / USD) was down more than 2% on Tuesday and appears to be correcting itself after the big rise in price this month. Alice climbed over 130% earlier this month and this could be the start of a rally. Alice has risen from $11 to nearly $30, however a correction in price can be seen and now shows signs of reversal. This could be a great opportunity for investors who missed the rally before it resumed its rally. Investors are now wondering if Alice will hit a new record in December.

Here's what the graphics are suggesting:

  • Alice corrected to $19 after hitting a high of $28.6, it dropped more than 40%, but that doesn't mean the correction is over.

  • A strong supply zone can be seen at $17 and Alice can be seen holding onto the zone, suggesting that strength is slowly returning in Alice.

  • Alice has corrected to the Fibonacci level at 0.618, which could be the reversal point, so a long entry can be made as soon as a clear reversal is seen.

  • Investors can also expect Alice to spend $21 before entering any long positions.

  • Alice was also in the overbought zone at the end of the rally, which may have been the reason for the sale.

  • A $23 target can be set, followed by $28, traders must also set a stoploss at $16.

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