ACIC Engulfing Price Spike, Long Uptrend Insurance
ACIC on the daily chart looks like a solid swing trade until at least the next earnings. The last
trading session had a hugh 10-15% move with a corresponding spike in buying volume.
The earnings report is about a month away. I will drill down to a 120 minute time frame
and look for bottom pivots from which to accumulate a position for the pre-earnings
run up. It is an insurance stock, a conservative financial services play which from the chart
looks safe with a good possibility of some gains in the upcoming month.
Yeah if you look at the chart carefully you will notice that ACIC did 8X in 2023.
trading session had a hugh 10-15% move with a corresponding spike in buying volume.
The earnings report is about a month away. I will drill down to a 120 minute time frame
and look for bottom pivots from which to accumulate a position for the pre-earnings
run up. It is an insurance stock, a conservative financial services play which from the chart
looks safe with a good possibility of some gains in the upcoming month.
Yeah if you look at the chart carefully you will notice that ACIC did 8X in 2023.
Trade active:
Price action in consolidation for this long duration swing play.