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JonathanWard
Jan 1, 2017 8:25 PM

AOBC (formally SWHC) Short Term Bullish Pattern Long

Description

AOBC (formally SWHC -1.17% ) has been in a bearish landslide since peaking on August 11, 2016 at $29.84 and is currently $21.08 per share. On 12/08/16 there was higher than normal volume which lead to a bullish engulfing pattern which may be a turning of the tides in favor of more bullish sediment. Previous support was around 20.5x and the last bull run peaked at $22.21 on 12/21. The current retrace from 12/21-12/30 seems to be on lighter volume , despite the normal holiday volume. The new support seems to be around 21.0x and I would no be surprised to see AOBC increase in the next fortnight to fill the $22.40 through $23.08 gap. However, if AOBC breaks the 21.0x support with strong volume , then I suspect it will fall to 20.5x.
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