Price action is tightening as we approach the pivot
Clear support along the 50dma so far
Strong industry group (top 50 per IBD) and other stocks setting up within the group
Earnings is already out of the way
I see the pivot as being the recent high of 36.31 and the nearest support level as 35. There is an ascending trend line drawn on the daily chart which also seems to be offering an area of support.
Comments
NJgolfer
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What a run for ABCB. $36 to $47
MichaelGLamothe
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@NJgolfer, looks like it still wants to move higher to me. I've scaled back and locked in gains on much of it but would consider adding if a fresh setup forms.
NJgolfer
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Michael - great call a few weeks ago. ABCB has really taken off.