The stock's been in a steady downtrend since late 2024, and more recently formed a textbook descending triangle: sloping upper trendline (resistance), flat lower trendline (support). That support level gave way on May 30th with a decisive break lower.
We saw a brief attempt to reclaim that support zone, but so far, the $3.81 area has flipped into resistance. Stock currently sitting at $3.41 -- and in my view, a sustained move back above $3.81 would be the first meaningful signal of potential reversal. Until then, the technicals remain heavy, and breakdown momentum remains intact.
I see potential here longer-term (was previously involved with SLRN prior to the ALMS merger), but not chasing here. Sitting patient and waiting for confirmation before stepping in. Stay tuned. GLTA.
We saw a brief attempt to reclaim that support zone, but so far, the $3.81 area has flipped into resistance. Stock currently sitting at $3.41 -- and in my view, a sustained move back above $3.81 would be the first meaningful signal of potential reversal. Until then, the technicals remain heavy, and breakdown momentum remains intact.
I see potential here longer-term (was previously involved with SLRN prior to the ALMS merger), but not chasing here. Sitting patient and waiting for confirmation before stepping in. Stay tuned. GLTA.
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