Throwing in my $.02. I don't know much about your specific plant but....I picked up 2 NOID Den phals from a big box store about this time last year. I repotted immediately on advice from here, they were in solid ceramic pots - no drainage.
I moved them to new surroundings, better aeration and drainage. This summer they have pretty much exploded. New canes and kekeis all over the place.
I figure any new growth is good, let the plant do what it wants. It was grown in a particular manner, you have a different environment. It will grow differently for you than for the grower you got it from more than likely.
I was (AM!!) a hovering parent coming into the hobby recently. I "may" have figured out that I need to observe my plants and see how they react to my environment. Orchids are bad for this (slow reactors), but I persisted and have learned a lot about what to look for.
Your plant looks good, unless you have leaves yellowing and falling, I doubt there is any issues. The plant will do what it will, hang on and enjoy the ride!
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