ACAD is not quite to yearly cup and handle break out, or basically the yearly high.
Acad looks to have been in a big fat rising wedge pattern then media and powers above, decided to end our society as we know it at least for 2020, and down she went.
Earnings were 11-4 and they missed on revenue so I am not even sure what propels this one..just seems it is usually a contender. NV and OBV are both high and short interest is a bit higher than I like at 6.7%
Some folks enter on the handle if they feel that price is secure, which we never really know for sure. Is not how I learned but have done it with success. I have entered at mid cup before I knew it was a cup and handle..lol. Support at that gap and at 53ish..
One thing I look back on when this name pops up, is I need to go with my gut, and not what someone tells you or what talking heads say etc..lol. I saw this at the bottom and my gut told me to buy it. In fact, I think I made a post on bottom fishing and someone commented that I should wait or something. I do not recall. There was no pattern, just a bottom..then I just forgot about it. Lesson learned..and we keep on learning them.
I looked at this using heiken-ashi candles and appears bullish. These are different from regular candles and filter out some of the noise and can help identify trends. Heiken-ashi candles are opposite in some ways than traditional candles. Hollow green candles with no lower shadows are used to signal strong buying pressure (vs the hammer in traditional candles where the wick is on the bottom and there is no upper wick), while filled black (or red) candles with no upper shadow are used to identify a strong downtrend. Heikin-Ashi dojis are similar to traditional candlestick dojis, they have small bodies and long upper and lower shadows. There are no gaps on a Heikin-Ashi chart (which I do not like) as the current candle is calculated using information from the previous candle. One candle alone has no meaning. Interesting to look at these sometimes when trying to figure out what the heck is going on (o:
Anyway, this is not a recommendation and patterns fail. This is just a pattern that it forming. Look for a good entry and go with your gut!
Happy Holidays!
Acad looks to have been in a big fat rising wedge pattern then media and powers above, decided to end our society as we know it at least for 2020, and down she went.
Earnings were 11-4 and they missed on revenue so I am not even sure what propels this one..just seems it is usually a contender. NV and OBV are both high and short interest is a bit higher than I like at 6.7%
Some folks enter on the handle if they feel that price is secure, which we never really know for sure. Is not how I learned but have done it with success. I have entered at mid cup before I knew it was a cup and handle..lol. Support at that gap and at 53ish..
One thing I look back on when this name pops up, is I need to go with my gut, and not what someone tells you or what talking heads say etc..lol. I saw this at the bottom and my gut told me to buy it. In fact, I think I made a post on bottom fishing and someone commented that I should wait or something. I do not recall. There was no pattern, just a bottom..then I just forgot about it. Lesson learned..and we keep on learning them.
I looked at this using heiken-ashi candles and appears bullish. These are different from regular candles and filter out some of the noise and can help identify trends. Heiken-ashi candles are opposite in some ways than traditional candles. Hollow green candles with no lower shadows are used to signal strong buying pressure (vs the hammer in traditional candles where the wick is on the bottom and there is no upper wick), while filled black (or red) candles with no upper shadow are used to identify a strong downtrend. Heikin-Ashi dojis are similar to traditional candlestick dojis, they have small bodies and long upper and lower shadows. There are no gaps on a Heikin-Ashi chart (which I do not like) as the current candle is calculated using information from the previous candle. One candle alone has no meaning. Interesting to look at these sometimes when trying to figure out what the heck is going on (o:
Anyway, this is not a recommendation and patterns fail. This is just a pattern that it forming. Look for a good entry and go with your gut!
Happy Holidays!
Comment:
In TOS, you can change the candle type under the candle style icon.