Hey everyone, ACB is looking great for a quick 15%. There is healthy consolidation on the RSI and price, prepping the stock for growth for the rest of the month. There is a strong bull channel being formed and price has been steadily bouncing around in there. There is some resistance at the .236 fib level that correlates with some price resistance from the previous spike.
The low volume is suspicious, and bull pressure looks delayed here.
Our entry is set around the $9.35 level, so long as the channel is respected. Some added volume wouldn't hurt support this.
Our positive exit is near the $10-$10.30 zone to avoid the troubles that the fib levels and resistance from the previous spike.
ish candle stick to break $9.35, enter.
Our negative exit has a few key areas
Selling should hit if the 8.43 support is met, if the RSI goes beyond 85, or if price breaks out of the channel for 4 periods to form a new trend. We are banking on that channel to hold up so once we are out of that, we should look for different entries into the market.
What do you all think? I love hearing from the community
-block
The low volume is suspicious, and bull pressure looks delayed here.
Our entry is set around the $9.35 level, so long as the channel is respected. Some added volume wouldn't hurt support this.
Our positive exit is near the $10-$10.30 zone to avoid the troubles that the fib levels and resistance from the previous spike.
ish candle stick to break $9.35, enter.
Our negative exit has a few key areas
Selling should hit if the 8.43 support is met, if the RSI goes beyond 85, or if price breaks out of the channel for 4 periods to form a new trend. We are banking on that channel to hold up so once we are out of that, we should look for different entries into the market.
What do you all think? I love hearing from the community
-block