ACI Technical Analysis

ACI analysis

Daily Chart

RSI – The RSI is holding above the 30 line, after being below it for about one month, on the so called oversold zone, so the bounce from the oversold zone, was a signal of a possible bottom.

MACD – The MACD already gave a buy signal with the crossover to the positive side, a few days ago, so another positive signal.

ADX – The ADX line is too high, due to the strong fall, but, it is now pointing down, it means that the down trend is losing strength, and, a possible up trend may take place. Also, the +DI is pointing up, and, the -DI is pointing down, all positive signals.

Volume – The volume is my main indicator, it accounts for 90% of my Technical Analysis, and, already made me lots of money in the past. Saying this, you can see that the volume on Friday, was 5 times the daily average volume of about 5 millions, this represents strong accumulation at this level, it means that the stock will run very soon, the bulls are taking control of the PPS, clearly

Daily Chart:

Weekly Chart

RSI – It has also bounced from the oversold zone just two days ago, giving a buy signal.

MACD – The green line just crossed the red line to the up side, giving another buy signal.

ADX – The ADX line is still going up, but, looks like it is trying to stop, and, will be flat or pointing down, because the +DI is already pointing up, and, the -DI already crossed the ADX line to the down side, giving a buy signal.

Weekly Chart:

Target at .75 – .80, but, 1.00 is also possible.

Time-frame = 4 – 8 weeks.

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Dr PennyStock

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