Thanks for the clear explanation of what you see in the charts.
ALA.to is banging it's head on the overhead resistance while waiting for their deal in Washington DC
I'll just add a bit of information that wasn't in your post:
-The ALA/R.TO (share receipts) return $31 to the holder if the deal isn't complete by Sept. 4,2018.
-ALA/R.TO should move toward $31 if the deal doesn't look like it will go through.
-If the deal appears to be going through, ALA/R.TO should trade close to ALA.TO.