A2M is at a very important juncture, currently at $10.20, and the market now is waiting for the announcement of its earnings report on the 25th of February. A2M has been consolidating between the range of $10.00 and $11.00 range, (50% Fib Retracement Zone) since the plunge in price. This (50% Fib Retracement Zone) is from the initial lows in May 2015, to its all time Highs of $20.00 in July 2020. This is also a High Profile Volume Zone where price is hovering currently.
The market is anticipating the release of its earnings report with an estimate of $0.17 EPS, and I think that if it releases its EPS below estimate, or any negative surprise, then we may see some more pressure to the downside towards the $8.00 - $9.00 Zone (Extremely Critical Support Zone). If we see it announce higher then estimate or any good surprise, then we need to see the break of the Bearish Trendline coupled with High Volume. Price has been hugging the Bearish Trendline and has not been able to break and close above it as of yet.
I want to see a decisive break of the Bearish Trendline with High Volume and a close above it, to take a Buy Position with a tight Stoploss below the 18th December, 2020 low. My Stoploss will be at $9.70, aiming for an initial target towards $12.00 - $13.00 zone, which is also a Gap Window Zone.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
The market is anticipating the release of its earnings report with an estimate of $0.17 EPS, and I think that if it releases its EPS below estimate, or any negative surprise, then we may see some more pressure to the downside towards the $8.00 - $9.00 Zone (Extremely Critical Support Zone). If we see it announce higher then estimate or any good surprise, then we need to see the break of the Bearish Trendline coupled with High Volume. Price has been hugging the Bearish Trendline and has not been able to break and close above it as of yet.
I want to see a decisive break of the Bearish Trendline with High Volume and a close above it, to take a Buy Position with a tight Stoploss below the 18th December, 2020 low. My Stoploss will be at $9.70, aiming for an initial target towards $12.00 - $13.00 zone, which is also a Gap Window Zone.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.