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.
Note
And here it is strong bounce from $16 :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.