Inverse head and shoulders
pattern has formed on the daily chart
for ACB. It has tested a bottom three times and has been in tight consolidating patterns for the last 21 days -- the longest period of consolidation yet in the stock's history. Bollinger bands
have tightened signaling a nearing breakout, with bear volume
reducing and bull volume
increasing, signaling an imminent breakout to the upside.
Whether you check the weekly or the daily chart
, the inverse head and shoulders
pattern has completed and the stock is signaling a strong upwards movement.
On the weekly chart we've formed higher highs three weeks in a row with increasing bull volume
. Anticipate huge volume
next week and a breakout.