ACIA has been downtrending since September of 2016 after reaching a triple top from a short, explosive burst from $28 to nearly $130. Just over a year, this communications stock has been tapering off on the bearish volume and seems to be consolidating during the past month, building a potential base.
Recent FibR levels from February 2017 until current show a potential price target of $50.92 (0.236% FibR) to $59.50 (0.5% FibR).
Daily MACD has crossed over since May 8, 2017 and has tried to cross under on several occasions, but failed. The 9dma has not yet crossed the 20dma, but if there is another bullish push, the risk would well be worth it.
The Weekly MACD has not yet crossed over, however, the week of May 22, 2017 saw over 20% more bullish volume than the previous week. Additionally, the 0.236 FibR at $50.92 show consistency on the weekly as well as the daily timeframe.
Disclosure: I am long in this stock.
Recent FibR levels from February 2017 until current show a potential price target of $50.92 (0.236% FibR) to $59.50 (0.5% FibR).
Daily MACD has crossed over since May 8, 2017 and has tried to cross under on several occasions, but failed. The 9dma has not yet crossed the 20dma, but if there is another bullish push, the risk would well be worth it.
The Weekly MACD has not yet crossed over, however, the week of May 22, 2017 saw over 20% more bullish volume than the previous week. Additionally, the 0.236 FibR at $50.92 show consistency on the weekly as well as the daily timeframe.
Disclosure: I am long in this stock.
Comment:
Got stopped out at $47.17.