In my opinion, ACB is a buy, at least in the short-term. RSI is not overbought, and sellers have taken profits with selling pressure falling the past two days. MACD is wide open with a lapse in the overall volume this week, so I think tomorrows action will determine the direction.
I think there's room to test the previous 7.5 area-high, with a history of value well beyond. We'll just have to see how the overall market index capitulation plays-out, but the company has strong positive news and earnings approaching. Questions on its fundamentals have been raised, but at least from a technical standpoint there's enough positives that I'd call this a short-term long play during the next few days.
I think there's room to test the previous 7.5 area-high, with a history of value well beyond. We'll just have to see how the overall market index capitulation plays-out, but the company has strong positive news and earnings approaching. Questions on its fundamentals have been raised, but at least from a technical standpoint there's enough positives that I'd call this a short-term long play during the next few days.
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On-target!
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Looking good! Hoping for a short squeeze tomorrow or at least another pop around the $7.5 area.