ACB bulls draw a line in the sand

23 thg 9, 2018

ACB spent the better half of Friday defending $11.75 as a line in the sand, despite the hourly bearish MACD divergence. If that cannot hold I would not expect 11.65 to hold, resulting in an Inside Bar bear break. From there I would zoom out to the 4hr chart and look for a higher low compared to $10.18 and a tightening range from there.

Investment rumours from Coca Cola give correlation favour to the bulls, and I would expect ACB to hold up better than other names should we see sector-wide consolidation this coming week.