ALLO Should I Buy

ALLO is not a good buy right now for a Beginner long-term investor who wants to act immediately. Despite recent bullish analyst actions and large upside-to-targets, the stock remains a high-binary-outcome clinical-stage biotech with no meaningful revenue, widening losses, and weakening near-term momentum (MACD deteriorating). A more favorable long-term setup would be closer to/after the early-Q2 clinical readout catalyst rather than buying purely on hope at $1.54 pre-market.

Price/Trend: Pre-market ~$1.54 (+0.65%). Moving averages are stacked bullishly (SMA_5 > SMA_20 > SMA_200), which suggests the broader trend has improved versus the long-term baseline. Momentum: MACD histogram is negative (-0.00823) and expanding downward, signaling weakening upside momentum / rising downside pressure in the near term. RSI(6) ~41.3 is neutral-to-soft (not oversold), implying there is room to fall before a classic oversold bounce signal appears. Key levels: Support S1 ~1.496 (near current price), then S2 ~1.409. Resistance Pivot ~1.638, then R1 ~1.779 and R2 ~1.866. From a tactical view, the stock is sitting just above first support with momentum weakening—more consistent with “wait/hold” than “buy aggressively now.” Pattern-based forward bias (similar candlesticks): modestly negative next week (-0.73%) with only mild 1-month upside expectation (+1.34%), which does not strongly support chasing immediately.