NASDAQ:AREC American Resources Corporation
Chart posted 6-2-2021 at 11:03am . The AREC seems to have bottomed and I have been gettiing signals that it is going to come back up. Usually these patterns do not play out 100%.. the target is marked. Lets see what happens- Set ya stops! Market acting stupid today lol
Comment: we got the price action- and this is typical for this pattern to trace up with violent sell to the downside. This is the preliminary test- expect higher prices to the 6.30 range soon. Good time to buy if you did not get in on the initial move.
Comment: When this move it will be very very fast
Comment: Still trading sideways.. holding nicely ... may not get the push until Monday/Tuesday next week (we shall see)
Comment: Still looking for upside today- if none and we go lower could be busted. This has been a pesky little trade.
Trade closed manually: Not feeling this action on the markets.. closing this trade until better action is seen.
Trade active: Looks like I closed a day early.. Re-entered back at 2.78
Comment: Good price action putting us back in play for pattern move.
Comment: An early call not working out as fast as thought.... the continued action in 2.60 range is showing bearish.. I think another look back when price is at 2.40 will do better if we do not get some swift reversal upside. Shutting this down for now.
Comment: Final word we have to see immediate bounce at this price area to continue this trade. I have closed, but still monitoring it.
Comment: Price action continues to hover.. and is not out of bounds for the recovery.. in fact the longer it just hangs here the more it supports the move back up.