ACST getting looks,increased volume could have large effect LONG
Updated
ACST popped onto my radar because of the increase in volume. The last few days have really encouraged a soft upward trend in a channel. No strong pennants or triangles: it's been consistently choppy - but to the upside.
Technical traders rely on the tenant that history will repeat itself.
I think a short term burst might be on the horizon, especially if this starts getting looks from the WallStreetBets crowd.
Still riding relatively high on the RSI side, I expect a brief pullback before renewed buy volume. MACD will probably crossover to the downside early and sharply turn back to the upside.
ACST is still riding pretty high over VWAP so again I expect some kind of pullback before moving on upwards. Might bounce off VWAP and head up - if it crosses VWAP we could see a strong retracement back down. I think this is unlikely though. Short term target of 1.30 (I hope.) If it breaks 1.35 I think we will be off to the races.
Back half of the week will likely tell the tale of how this stock is gonna ride for the next few weeks.
Like if you like. Not an expert - just my idea, and I take my ideas to the BANK!
Play this one carefully...
Good luck!
Technical traders rely on the tenant that history will repeat itself.
I think a short term burst might be on the horizon, especially if this starts getting looks from the WallStreetBets crowd.
Still riding relatively high on the RSI side, I expect a brief pullback before renewed buy volume. MACD will probably crossover to the downside early and sharply turn back to the upside.
ACST is still riding pretty high over VWAP so again I expect some kind of pullback before moving on upwards. Might bounce off VWAP and head up - if it crosses VWAP we could see a strong retracement back down. I think this is unlikely though. Short term target of 1.30 (I hope.) If it breaks 1.35 I think we will be off to the races.
Back half of the week will likely tell the tale of how this stock is gonna ride for the next few weeks.
Like if you like. Not an expert - just my idea, and I take my ideas to the BANK!
Play this one carefully...
Good luck!
Trade active
Well... I missed the target on this one. They won't ALL pan out like I think they will.I believe the sudden decrease in volume triggered the bearish action today.
If volume had continued like I thought it would, it may have given this symbol the umph it needed to escape the gravity holding it down. Reducing my position by half. If Monday brings new volume, I will re-enter as I think this stock still has potential to climb.
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