What's Causing The Hype On Alpine 4 Holdings Stock?

Alpine 4 Holdings Inc. ALPP shares are trading higher Monday after the company announced it has been approved by The Nasdaq Stock Market to list on The Nasdaq Capital Market effective Oct. 20. The stock will be listed under the ticker ALPP.

Alpine 4 Holdings was up 12.98% at $5.31 Monday afternoon. 

Alpine 4 Holdings Daily Chart Analysis

• The stock has broken out of what technical traders call a falling wedge pattern. The break of pattern resistance possibly started a reversal of the stock.

• The price has slowly been pinched between narrowing highs and lows until it made a breakout over resistance. The breakout may have been a signal that the trend was changing.
• The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is seeing a period of bullish sentiment.
• Each of these moving averages may hold as a potential area of support in the future.
• The Relative Strength Index (RSI) has been flying higher the past few days and sits at 77. The RSI has moved into the overbought range now, showing that buying pressure is significantly outweighing selling pressure.

What’s Next For Alpine 4 Holdings?

Bullish traders are hoping to see the stock continue to climb until it is listed on the Nasdaq markets. Bulls would like to see the stock continue to rise and then eventually see a period of consolidation before more bullish moves may happen.

Bearish traders are looking to see the stock start fading back lower and are hoping the stock will start to dip. Bears are looking for a dip below the moving averages to see the stock possibly have a change in sentiment.