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We had last covered Alternative health Corp in our February article. Click here <insert link to AHG in FEB article> to see the discussion surrounding finding support on their chart. Unfortunately, that support did not hold up. The resistance plotted was never broke either. Now that the price has been more or less free falling since that last issue let’s take a moment to reexamine some charting setups, even if they are only temporary blips until we can get a solid line of support. Alternative Health has had some series of news since our last article which includes a potential spinoff and the deployment of their Zi App Blockchain Mobile Payment System as well as the CanaPass blockchain transaction ledger. For more details you can go here.
We are going to discuss the falling wedge chart pattern. This pattern is similar to a symmetrical wedge were the prices get tighter and tighter until eventually, they break. However, with a falling wedge, the price action is negative until it breaks the resistance (the upper line on the chart). This can be considered a bullish reversal when this occurs. There are some other signs we would like to look for with our falling wedge breakouts and that is positive divergence, where the MACD is turning up and volume as confirmation of the movement. The next time you see negative price movements become tighter and tighter have a second look. You might just spot yourself a bullish reversal.
Alternative Health Corp.
(CSE: AHG)
Note: the chart uses
CSE: AHG - the same company