I am still very optimistic in regards to where ACB is going in the very near future, and I personally believe Monday might bring some admittedly needed, but nonetheless positive momentum. Here are several reasons why:
1.The reaction to the trend-line hasn't changed since the beginning of the year, and that point re-emphasized itself earlier today.
2. The bears were declining in volume at the close of the bell.
3. If you notice the trend line I placed inside the RSI you will see that heavy buy-ins usually start from 49-51-ish and that is exactly where this sideways activity is occurring.
4. The Stochastic RSI shows the same consolidation in a bottomed out area on the chart indicating that an upward breakout is likely.
5. The Volume Weighted MACD with Sentiment (very cool indicator!) is moving from a bearish red histogram to a yellow to a ....Gotcha! See Monday mornings opening for the rest of the story :)
Warning: I have been known to be WRONG before, so please do not take this as financial advice. Good luck with your trades!
1.The reaction to the trend-line hasn't changed since the beginning of the year, and that point re-emphasized itself earlier today.
2. The bears were declining in volume at the close of the bell.
3. If you notice the trend line I placed inside the RSI you will see that heavy buy-ins usually start from 49-51-ish and that is exactly where this sideways activity is occurring.
4. The Stochastic RSI shows the same consolidation in a bottomed out area on the chart indicating that an upward breakout is likely.
5. The Volume Weighted MACD with Sentiment (very cool indicator!) is moving from a bearish red histogram to a yellow to a ....Gotcha! See Monday mornings opening for the rest of the story :)
Warning: I have been known to be WRONG before, so please do not take this as financial advice. Good luck with your trades!
