AERC Skewed Elliot Wave Theory
*** Chart Update 6/22 ***
AERC appears to be holding and consolidating on necessary key levels as of now which keeps me bullish on the play. I have added shaded regions from the top of leg 3 for retracement zones. It would be really nice to see this hold above 16 however does have room to retrace all the way down to around ~$14.25 without breaking the Elliott wave pattern. I consider it a Signal of strength if it maintains itself above a 38.2% retracement (Marked 61.8% or around $16 on the chart). So far so good.
After spending a long time analyzing ticker AAERC, we found some anomalies that may have skewed detection of a proper Elliott wave pattern. The long short of it is that outliers, two events; the massive sale of short exempt shares, and consecutive market crashes caused anomalies in the formation of the Elliott wave pattern skewing it from showing where the move is in relation to the overall movement of the ticker. In short, those events act like a finger pulling down a string or a rubber band "the chart."
On its head the chart appears as though the Elliot wave pattern has completed its (5th) leg and is in consolidation before its next move up or collapse, however several other technical indicators contradict this. When taken into account massive sales of short exempt shares totaling well over 3 million shares in addition to 3 separate market crashes and recoveries of the ticker from the market wide gap downs over the period of only a week, divergence on the on the OBD with the RSI , the stock being on the SEC threshold list, the dips in the awesome oscillator , and finally the move being confirmed with the fibonacci extension hitting and bouncing at the appropriate levels, some of us at HTF have determined a strong possibility that we are in fact finishing leg (3) and preparing to make the move up to (5) before consolidation.
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AERC appears to be holding and consolidating on necessary key levels as of now which keeps me bullish on the play. I have added shaded regions from the top of leg 3 for retracement zones. It would be really nice to see this hold above 16 however does have room to retrace all the way down to around ~$14.25 without breaking the Elliott wave pattern. I consider it a Signal of strength if it maintains itself above a 38.2% retracement (Marked 61.8% or around $16 on the chart). So far so good.
After spending a long time analyzing ticker AAERC, we found some anomalies that may have skewed detection of a proper Elliott wave pattern. The long short of it is that outliers, two events; the massive sale of short exempt shares, and consecutive market crashes caused anomalies in the formation of the Elliott wave pattern skewing it from showing where the move is in relation to the overall movement of the ticker. In short, those events act like a finger pulling down a string or a rubber band "the chart."
On its head the chart appears as though the Elliot wave pattern has completed its (5th) leg and is in consolidation before its next move up or collapse, however several other technical indicators contradict this. When taken into account massive sales of short exempt shares totaling well over 3 million shares in addition to 3 separate market crashes and recoveries of the ticker from the market wide gap downs over the period of only a week, divergence on the on the OBD with the RSI , the stock being on the SEC threshold list, the dips in the awesome oscillator , and finally the move being confirmed with the fibonacci extension hitting and bouncing at the appropriate levels, some of us at HTF have determined a strong possibility that we are in fact finishing leg (3) and preparing to make the move up to (5) before consolidation.
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