Hello Traders,
I am back for another AC technical analysis.
Looking at the 4 hour chart, we can see that AC has been in down-trend since June 20th high, as the price has been rejected multiple times at 4-hourly 20MA.
However, few bullish signals have emerged:
1) Bullish divergence in price and MACD
2) $15.90 has been tested multiple times and bears are failing to break this support
If AC breaks orange trend line with convincing volume, we can expect the price to hit $17.50 in short term.
Stop loss: $15.85
Happy trading.
I am back for another AC technical analysis.
Looking at the 4 hour chart, we can see that AC has been in down-trend since June 20th high, as the price has been rejected multiple times at 4-hourly 20MA.
However, few bullish signals have emerged:
1) Bullish divergence in price and MACD
2) $15.90 has been tested multiple times and bears are failing to break this support
If AC breaks orange trend line with convincing volume, we can expect the price to hit $17.50 in short term.
Stop loss: $15.85
Happy trading.
Comment:
And here it is strong bounce from $16 :)
