Resistance slope quite strong for ACR

ACR was able to stay in green yesterday and closed at 2.15 per share. Is it enough to countery the Bearish Meeting Line we’ve seen last two days ago or this is just one of the spikes as ACR will continue to dip? Notice that our resistance slope is quite successful in stopping the price to go further up. It happened last time on May 12 – 13 when price hit the slope and price retraced towards the lower slope and bounced. This may happen again if price will not be able move above the last high.

Ichimoku is telling us that ACR is still in a bullish mood but with the possibility of Kijun Sen line to bring the price to 2.0 per share. From there, if we will not see no bullish candlestick then it will go down to the lower slope.

RSI or Relative Strength Index is at 75. There is a bearish divergence happening in our RSI so it is also a challenge for the bulls to break that pattern.

Caveat!

One Response to Resistance slope quite strong for ACR

  1. […] 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 […]

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