Even if I knew jack shit about technical indicators, I'd still be thinking that ACB is about to have a bullish week. One of the biggest hammer/dragonfly dojis I've ever seen in my life on the weekly chart. Hang onto your butts! :D
The overall bearish trend of this stock plus that huge stall around 31.10 makes for a ok looking short play. Plus, I need to round out my portfolio with a few bearish stocks, now that we're in this weird sideways market. Will exit at the 2R mark before it gets into that support area again down at 25.50.
Looks like a good set up if I can get a pullback to my entry before this takes off. If I get triggered in, and the stock does, in fact, go bullish, I'll be playing it aggressively with my stop when the price gets up around the 123.50 area, in case there's a bounce off of resistance. And now, we wait... :)
I've had this order open in my broker for quite a while now, lol. I still think there's a bullish sentiment there and am set up for when this triggers, looking for at least 2R profits before it hits the ATH.
If you have any strong opinions that disagree with me about this stock, let me know! I'm legitimately happy if someone can tell me why I'm wrong (or if...