/biz/ - Business & Finance

>>12812457
>ACB

Okay, chart isn't terrible on this one. Pic related is muh TA. Prices are in Canadian but the pattern is identical. Medium term falling trend puts resistance at $10, same price it initially rejected back in January. Rising channel remains intact for the time being. First support is $8.83 (the February 12th low). Second and more critical support is ~$8.17, the average lows on Jan 18, 22-24.

If I were holding ACB I would place a conservative stop just below $8.17. More aggressive stop would be just below $8.83. Just depends on how much wiggle room you feel comfortable allowing the price to move. Major thing to watch out for is another rise to $10, bounce down, break support. If that happens it's a head & shoulders as well as a violation of support, therefore strong bearish signal. If it blows past $10, that would be an early sign of possible technical bullish breakout, and good news for more gains to follow.