OK Traders. Look at the Timed Cycles on the top of my chart and the trading pattern that AI has undergone since early February. I for one am not going to let this pass me by again. Likely by Wednesday I will take a large Position as the potential for a 30% gain within 11 days is very real. I firmly believe it's worth the risk for less than 2 weeks time. The Stochastic RSI appears to be confirming this as well with the same repeating pattern. This stock is Highly Manipulated so make sure you have set Trailing Stops on your positions. As well you can see where the potential top will be so be prepared to Short near the top if you are so inclined with your trading strategy.
Comment:
Interesting that in the first 2 timed cycles as I was charting ai, I called several times for people to sell and take profits as I saw this breaking down. Then when I saw the third cycle set up I thought to myself, ok, well it looks like it wants to run. Then the chit hit the fan with a critical report on their Accounting/Reporting Practices as presented by Deloitte their Auditing Co. who is also one of the Big 4 Acctg. Firms in the US and though it raised many an eyebrow I thought that for sure Deloitte would not be caught performing a bad audit and felt that although a couple of class action law suits were brought forward, Deloitte would provide a statement to the Media Defending their Audit and saying that the courts will vindicate their practices... well that has not het happened. The fact that Deloitte has chosen to remain silent, to completely ignore this horrific criticism that essentially calls into question their credibility and integrity is the reason why ai is falling so dramatically now. The next support is at $17.85 and then $15.18.