ir-rizzle

$ACLS - Wave 5 underway...heading north of 50?

Long
NASDAQ:ACLS   Axcelis Technologies, Inc
Lots of interesting things happening here...

1) Ichimoku cloud on every time frame, from 30 min to weekly, showing green.
2) EW count shows what looks to be the start of a Wave 5. If we come down a bit and bounce from 37-38, that will be confirmation of W2 of W5. $38 is also the 21 EMA support.
3) The equal legs target of both W1 and W3 land at the 50% and 61.8% inverse retracement of W4. This shows price confluence around $50
4) The pitchfork median should act as a magnet and once we cross the $41.20 high, we should continue to the top 0.5 and 1 band
5) The Fib time extension shows a 1:1 extension in mid June right around where the W3 and W1 equal leg targets finish (the two grey rectangles)
6) Hidden bullish divergence ....price is making higher lows as RSI makes lower lows
7) MACD on daily timeframe has just flipped green with bulls in control.
8) Earning coming up on May 5, so we could see an early run up to earnings , especially since the FIb time 1.618 level is around there too.

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