ASO - rising wedge The price is forming a rising wedge pattern with higher highs and higher lows.
The price is still moving inside the pattern, once it breaks the support line it would be a good time to enter the short position.
RSI is showing signs of bearish divergence.
Target is shown on the chart.
Asobuy
US Stock In Play: $ASO (Academy Sports and Outdoors Inc)$ASO navigated out of its consolidated price pattern with a resurgent of its uptrend coupled high sessional volume, rallying up +15% this month (April). $ASO was previously whipsawing along its 20DMA over the course of 7 weeks since the start of February. $ASO is currently trading at $32.70, merely a dollar away from its all time high.
At the current junction $ASO is displaying a congested price pattern with dried up volume, posing for an all time high breakout in the upcoming week.
$ASO through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States.