Alberton Acquisition Corporation (ALACU) Forms Bullish Wedge Up; Strong Momentum for Buyers Coming

The stock of Alberton Acquisition Corporation (ALACU) formed an up wedge with $10.98 target or 7.00 % above today’s $10.26 share price. The 6 months wedge indicates low risk for the $40.91 million company. If the $10.98 price target is reached, the company will be worth $2.86M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

It closed at $10.26 lastly. It is down 0.00% since May 8, 2018 and is . It has underperformed by 4.37% the S&P500.

More notable recent Alberton Acquisition Corporation (NASDAQ:ALACU) news were published by: Prnewswire.com which released: “Consumer Spending on Cannabis Keeps Growing With New Regions Setting up Shop – PRNewswire” on April 25, 2019, also Globenewswire.com with their article: “Axogen, Inc. to Participate at Upcoming February Investor Conferences – GlobeNewswire” published on February 19, 2019, Globenewswire.com published: “CTD Holdings Announces Filing of Patent Application for Use of Hydroxypropyl Beta Cyclodextrins in the Treatment of Alzheimer’s Disease – GlobeNewswire” on October 29, 2018. More interesting news about Alberton Acquisition Corporation (NASDAQ:ALACU) were released by: Globenewswire.com and their article: “CTD Holdings Announces Expanded Access Protocol using Intravenous Trappsol® Cycloâ„¢ for Alzheimer’s Disease – GlobeNewswire” published on August 13, 2018 as well as Globenewswire.com‘s news article titled: “CTD Holdings Establishes Second Clinical Trial Site for US Phase I Clinical Study of Trappsol® Cycloâ„¢ for Treatment of Niemann-Pick Disease Type C – GlobeNewswire” with publication date: October 05, 2018.

Alberton Acquisition Corporation engages in acquisition, share exchange, share reconstruction, amalgamation, and other similar business combination with one or more businesses or entities. The company has market cap of $40.91 million. The firm was formerly known as Wisdom Resources Group Limited and changed its name to Alberton Acquisition Corporation in July 2018. It has a 446.09 P/E ratio.

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