ACB will definitely be a great stock for a long term hold.
Updates:
- I corrected my earlier mistake of charting on too short of a time frame.
- This chart is for short-term options trading, I am making money on small time intervals, and this is not for those who are swing-trading or long holds.
ANALYSIS:
- For this week, I see a potential dip in the price of ACB. The RSI indicates an overvalued stock, and following the other two peaks above 70, we see that the RSI value goes down.
- The MACD is close to the range of the previous high, leading me to believe that the MA's are about to cross. Once they cross, it is confirmed that there will be a downtrend with volume, and bears will take control of the market before it bounces shortly after.
- The moment they cross is where you should see your put contract gain %. This is a short term gain, be very careful since this is risky when it comes to options.
- Once the bears hit the support trend line, there will either be a bounce above the support line at $10.40ish or stay within the $9.50 area.
Will be excited how the market will do this week as the DOW might slightly alter my chart predictions.
ALL VIEWS ARE MY OWN, I DO NOT HOLD RISK FOR SHARING MY IDEAS.
Updates:
- I corrected my earlier mistake of charting on too short of a time frame.
- This chart is for short-term options trading, I am making money on small time intervals, and this is not for those who are swing-trading or long holds.
ANALYSIS:
- For this week, I see a potential dip in the price of ACB. The RSI indicates an overvalued stock, and following the other two peaks above 70, we see that the RSI value goes down.
- The MACD is close to the range of the previous high, leading me to believe that the MA's are about to cross. Once they cross, it is confirmed that there will be a downtrend with volume, and bears will take control of the market before it bounces shortly after.
- The moment they cross is where you should see your put contract gain %. This is a short term gain, be very careful since this is risky when it comes to options.
- Once the bears hit the support trend line, there will either be a bounce above the support line at $10.40ish or stay within the $9.50 area.
Will be excited how the market will do this week as the DOW might slightly alter my chart predictions.
ALL VIEWS ARE MY OWN, I DO NOT HOLD RISK FOR SHARING MY IDEAS.