Alignment Healthcare Inc

ALHC remains in a Stage 4 decline with supply firmly in control, evidenced by sequential lower highs and lower lows under declining 9- and 20-day EMAs. Price is oversold and continues to be rejected at these EMAs, reinforcing a bearish medium-term bias. Short-term timing favors sellers as rallies toward the falling EMAs fail. Execution is authorized on rallies back into the 9/20 EMAs, while sustained acceptance above the 20-day EMA would invalidate the current bearish posture.

• ↑Q2 membership reached 294,100 (+31% YoY) and revenue hit $1.3B (+32% YoY)
• ↑Adjusted EBITDA rose to $68M (+48% YoY) with a 5.1% margin
• ↓Negative earnings yield and low profitability raise valuation concerns