ABS is moving out from its current trading range with a good volume but at the same time is met with another resistance zone. ABS needs to retain its momentum so it can further break the immediate resistance. In case this will rest, our newly found support should be able to stop the price from [...]
Last week we speculated that ABS might trade within the rectangle but it failed to sustain within that zone. Instead it went down by 3.92% last week. At the closing last Friday ABS was able to stay in green after touching 37.50 with a bit of a light seen at the end of the tunnel. [...]
Currently we are experiencing a “pause” on ABS‘s uptrend run. As we see on its daily chart, price movement seems to be enclosed in a consolidation zone where we have our resistance line at top and support line at the bottom. Will this week be a good week for bounce play? RSI shows that we [...]
Looks like ABS is shaping up after the holidays. Could it build the perfect 6-pack abs or it will need more time to grind those fats and bulls to build some more muscles to break all resistances? An impressive run by ABS today creating a White Marubozu candlestick (by the way I’m using green color). [...]
A potential breakout for ABS as we see its price move from below to above the middle band. Also a symmetrical triangle formation has been formed and price may break the upper slope (resistance). We also observed a decline in volume. As the symmetrical triangle extends and the trading range contracts, volume will start to [...]
Looks like the bearish signal yesterday is not confirmed and price just went up above the 20 day SMA. Looks like the little Homing Pigeon is more powerful bullish reversal at this point. Price is nearing resistance level. How hard would that wall be? Caveat!
ABS‘s price move at the early days of the week can be regarded as our test for the newly found support after it breaks from the resistance. Although the entire week was fairly dominated by the bulls it seems it they are now tired. With the support holding its ground, price may go sideways but [...]