IIICENSOREDIII
Long

$AC.TO bounce off 4 Month Resistance

TSX:AC   AIR CANADA
Since Covid dip, AC has been following this support line.
About to hit for third time.
Entry beterrn 16.03 and 16.24
Long long
Trade active: Took the trade at 16.21.
Price bounced on target and printed reversal on the 4h.
If volume can keep momentum up, then targets at 19.66 Fib line.
If clean break, then 22.70
Trade active: Interesting on the very small TF. Can see sellers and buyers battling it out.
News flipping daily isn't helping. AC will cave and reopen the routes, or Gov will step in. Betting on AC increasing air travel, or gov will assist. Either way = Bullish to me. What does market think...
Trade closed manually: Closed before Y close. Might keep going but i'm happy here.
Anyone end up catching that full trade?
Trade active: Healthy morning dip. Currently testing LTF breakout, hovering above previous consolidation high. Might see a fakeout below and touch RSI low for quick bounce.
Ideal, price holding between green and upper blue line and catch a long reentry.
4h remains very bullish and if momentum continues, looking at Fib target right below 20$.

Comments

Still in play. Price is at support on the minute.
WIll likely see a price drop at open followed by quick correction.
Bullish is price holds these levels.
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Massively oversold on all levels. Bounce imminent, or full on collapse. It's up to you.
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We were off to a good start, Its ok to take profit, but Holders are still panic selling their 1% gains atm assuming they bought the low.
Quite sad indeed.
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Yeah I was just looking at the daily chart. Should bounce off lower trendline on pace for that around the end of the week.
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IIICENSOREDIII jaredwolowidn
@jaredwolowidn, Hope you took the trade!
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