Updated
ACB Looking 'up'?
It has been a long time since I was bullish ACB. I think we may be looking at a completed correction, and a leading diagonal for a motive wave 1.
FIB says likely this will end at $13.20 resistance, after which we would be looking for a wave 2 correction down. Lots of time to assess, I would say, but if this plays out, we will soon be buying into wave 3 for a sustained rally.
FIB says likely this will end at $13.20 resistance, after which we would be looking for a wave 2 correction down. Lots of time to assess, I would say, but if this plays out, we will soon be buying into wave 3 for a sustained rally.
Note
On reflection, I don't like the above count much. That assumed leading diagonal looks like a textbook ABC correction. Looking at the entire correction, I think we may have an extended wave 3 on our hands, and I am considering the shape of the final wave 5, I'm looking at a posibility for wave 5 truncation. Buy target $11.66. Bit of a gamble, but should bounce there, regardless.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.