We noted this weekend that AAC formed a 1st stage double bottom with an advanced pivot at 30.15 and a classic pivot at 31.58. AAC was #1 in ChartYourTrade.com's Top 10 Setups in Bases with a rating of 9.65. It wasted no time breaking out and running over 20% so far this week.
Here are some of the notes provided to ChartYourTrade Premium members from this weekend:
BASE TYPE = 1st stage double bottom
CLASSIC PIVOT = 31.58
ADVANCED PIVOT(s) = 30.15
SUPPORT = 29.00, 50dma
NOTES: The biggest knock against AAC is that it is thinly traded at only about 100k/day. Aside from that it has a well formed base with signs of accumulation, a RS line that has bolted higher, and passes all the fundamental criteria in our Stock Evaluation Guide.
POINTS (+/-)
Trades less than 300k avg shares/day (-.3)
1st or 2nd Stage Base (-0)
Group Rank 1-40 (-0)
No top funds (-.05)
Here are some of the notes provided to ChartYourTrade Premium members from this weekend:
BASE TYPE = 1st stage double bottom
CLASSIC PIVOT = 31.58
ADVANCED PIVOT(s) = 30.15
SUPPORT = 29.00, 50dma
NOTES: The biggest knock against AAC is that it is thinly traded at only about 100k/day. Aside from that it has a well formed base with signs of accumulation, a RS line that has bolted higher, and passes all the fundamental criteria in our Stock Evaluation Guide.
POINTS (+/-)
Trades less than 300k avg shares/day (-.3)
1st or 2nd Stage Base (-0)
Group Rank 1-40 (-0)
No top funds (-.05)