So i made this up for the first time and would love some feed back and advice.
Im guessing with my drawing we are about to hit the support and have a bounce back up.
So if this goes over the 50ma line we have good chance of bouncing back up?
I panic bought at 21. 40 because the price went up to 23.5 but started to drop the next day. Now looking to sell at or just under 23.
Think this is a good plan and target? I am a long hold but am trying to make some short profits along the way and get more into swing trading.
Thanks for taking time to see my post.
This is purely my speculation, but in order for AC to drive up to that 23.5 level, it would not just need a short positive news, but long term promising news such as decreasing COVID-19 cases and lifting up travel restrictions. Since Q2 reports are coming in very soon with higher chance that it's going to reflect more losses than Q1 report, I would say AC is going to be a very long play. But once it's able to reach that 23.5 level due to those aforementioned long term positive news, there may be enough volume to even break the resistance and go to next resistance level.
I highly doubt that AC price will stay like this constantly and there is more likelihood that it will reach higher prices in near future, but only God knows the exact date.
Again, purely speculation so just take my suggestion as a grain of salt.
This is good though, Itll pick back up sooner or later.