AC bouncing from 78.6% Fibonacci Retracement level

It seems that AC has hit the bottom at 78.6% Fibonacci Retracement level few trading days ago. Although Ichimoku system is telling us that it is still in a downward trend, price may continue to spike and has the potential to hit 552 – 554 This is due to the Kijun Sen currently moving horizontally. Remember that this is the time when Kijun Sen has the strong power to attract the price from moving towards it.

So far we don’t have any warning from our candlesticks. With RSI or Relative Strength Index still at a low level, there is greater chance it will move up. Volume today is relatively impressive. Seems like a lot are attracted to AC?

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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