AUTO LENDING STILL STRONG BUT 29% GAINS IN ALLY HAVE TRIGGERED MATASII'S "COVER" LEVEL
ALLY CHART AS OF CLOSE 12-07-18
MATASII WATCH LIST TRIGGERS / GAINS
INITIAL ALLY Technical Set Up: June 26th, 2016 ALLY has been in a down trend since inception: blue trend channel can be seen on weekly. The market has lifted from channel support to about mid channel, where it has been consolidating since March. This consolidation can be seen on the daily as an expanding green wedge.
Breaking down from the daily green wedge could see a market move to the lower channel support (blue weekly).
A short term lift inside the daily pattern may be next as the market currently sits at the pattern support. A break up through the blue weekly channel resistance could see a move to the next blue s/r zone.