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Long

Long ACRX: Bullish Bat at Trendline Support

By glennmercer
ACRX is nearing the completion of a bullish bat pattern on the daily chart. The PRZ falls in a significant support zone and may be confluent with support from a 3-month trendline. 3 Missed weekly pivots sit above price to add to the bullish bias. Entry is placed at the bottom of the PRZ with target at .618CD and SL below the 1.13XA fib level.
Confluence in the PRZ:
  • Bullish bat pattern completion
  • 4BC projection
  • AB=CD
  • 3 month trendline support
  • Missed weekly pivots above price
  • S/R Zone
AB=CDACRXBatBullish BatconfluenceEquityglennmercergmercerfxmissedpivotspivotPivot PointsPRZS/RStocksTrend LinesWeekly Pivots
glennmercer

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