Kijun Sen line keep pulling the price on ACR

ACR is trying to make a comeback but ince the last time we saw ACR having a Bearish Meeting Line (Resistance slope quite strong for ACR), it continues to show some weaknesses. The Kijun Sen line that is moving horizontally continues to pull the price from moving above the last high. We are speculating that this stock has the tendency to kiss 2.0 before bouncing back. If there is no bullish pattern at that line then it will continue to move towards the lower slope.

RSI or Relative Strenght Index is now at 62. Test buy near 2.00 would be a good idea provided we will see some reversal pattern. For now, let it bleed.

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

}