ACADIA looks ready to move to new highs. Plenty of digestion and back filing the past year and I am seeing more commitment in the intraday price behavior.
I believe at the very least there is a swing trade to the mid $30's here with plenty of catalysts to take this company much higher next year.
I took a long position again today at the open, average cost $29.0391.
Day-traded this name on Thursday/Friday 13-14 and was watching the price behavior for signs of a break-out to new highs. As you can see on the 15 MINUTE chart, we got that today with a trigger buy at $43.70 and $44.30. My average cost is $43.96 for a swing trade to mid/high 50's.
Support : $43.70, $44.00, $44.30, $45.00, $45.75
Target $57 by late December (4 Weeks)
Will probably hit mid $4's in the next couple days and then rest a little maybe pullback to the $3.60 - $3.80 level before getting ready to head to the mid $7's. If you can pick it up under $4, even better.
$107.23 Has to hold in order to set-up
for the next swing trade LONG. Otherwise
I would potentially look at a cute short to $100
before the next LONG trade.
Slightly above average volume today, buying momentum into the close. Short-term looks attractive for some swing trading if and when it moves much higher. Short-term LONG POS - AVG COST: $1.0424. Follow-thru tomorow could make things interesting, plenty of buying today when it pushed thru $1.20 and in the final 20 minutes.
