ACR to go beyond 2.04 and beyond?

No bearish signal from the candlestick yet for ACR which means there is greater chance it will continue to go up and may try to break the resistance at 2.04 which is our high last May. Current support is at 1.88 per share. The weak bearish signal from Tenkan Sen / Kijun Sen Cross few days ago is still there but this will be negated if we will have break from the resistance.

Notice that ACR has found support at 32% Fibonacci Retracement level. This could lead to a sharp rally upward with the same length when we saw ACR rise from 1.38 to 2.04.

RSI or Relative Strength Index is at 72

Caveat!

The following two tabs change content below.

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.

Leave a Reply

}