After what seems like a never ending cascade ACB and many other MJ sector names are entering major support zones for accumulation. This is where I am looking to enter positions for maximum Risk/Reward. Calculated entries are laddered at daily gap zones inside of this box with half of a position and another half is waiting to be deployed on a move up & out of this zone. Patience is key as there will need to be a new base formed or an explosive volume based bounce.
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The last week of trading from 1/10 - 01/17 is the exact type of volume based bounce that I was referring to back in November.
Personally, I have accumulated positions with a half portion of my capital and now we have a defined range to accumulate more if there is a move up and out of the range which would coincide with a weekly trend change. Again...Patience is key.