I have been throwing cutlery at you guys for about a month. Series of cup and handle patterns, all of them that were followed through. ACB is a giant cup and handle between October last year and today. Recently, the 100 and 200 EMA crossed over. The last time this happened was at the foot of the uptrend that lead to the all time high of $12.53. I pointed it out, repeatedly, and now ACB is about to explode to new highs. It is not going to go there directly though. The similarities with the earlier uptrend are striking, so please study, and note the time it took before it finally broke out. The current channel has the exact same angle.
All ACB seems to have been doing so far, is try to catch up with its own trend, moving back to the top of the channel. While CGC and CRON broke out long ago, investors are now, for the first time, regaining confidence that ACB is a good investment. What is happening now is only just the beginning.
What is next?
The top of the current channel is around $10. How much of Friday's move was FOMO? Is the level sustainable? With no actual news, I am anticipating heavy profit taking at around $10. Bulls will have to break $9.71 on Monday if they want to reach that level.
Trend based FIB shows some interesting levels that could be of help.
She may be overbought (RSI), but at the same, she is undervalued. Ultimately, investors decide where she is going to go, and when. Meanwhile, Cramer keeps pumping, and the Motley Fool keeps trying to bring her down.
Please, share your thoughts.
All ACB seems to have been doing so far, is try to catch up with its own trend, moving back to the top of the channel. While CGC and CRON broke out long ago, investors are now, for the first time, regaining confidence that ACB is a good investment. What is happening now is only just the beginning.
What is next?
The top of the current channel is around $10. How much of Friday's move was FOMO? Is the level sustainable? With no actual news, I am anticipating heavy profit taking at around $10. Bulls will have to break $9.71 on Monday if they want to reach that level.
Trend based FIB shows some interesting levels that could be of help.
She may be overbought (RSI), but at the same, she is undervalued. Ultimately, investors decide where she is going to go, and when. Meanwhile, Cramer keeps pumping, and the Motley Fool keeps trying to bring her down.
Please, share your thoughts.
Comment:
Comment:
Healthy consolidation. If you're long, brace yourselves for a dive.
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