Check the candlestick pattern on the monthly timeffameEvery month the stock has closed lower...And with bad news expected on Tuesday, there is no reason for ACB not to drop lower on the Monthly time frame...
There is a major support at $7.39---just look at the candlestick
chart for the monthly
ACB's share price us 3/4 down the wick, way below the high/low price on the time frame for the monthly time frame...
The bottom of the wick, and major support, and price of the initial gapper is $7.39....
Now, I could be wrong...Techicals and charts are not the Holy Grail, but there is a very strong pissibility that ACB will rank to this price on Monday, Tuesday, Wednesday....
patience is a virtue, control your emotions, learn how to read a chart, understand the basic essential indicator of a moving Average----
for daily, weekly, monthly time frames:
Two hard and fast rules:
1. You never buy a stock and go long when the stock is going lower each month...because the stock price us likely to go lower. You look at the $@)$ chart on the monthly time frame ---and then buy near the bottom when the stock trades in a range, or support/resistance/ or accumulation phase of a stock cycle---swing high/swing kiw.
2. You always look at a moving average on the 5 day, 20 day, 50 day, 100 day...And never buy in when the share price is trending/trading below the moving average....
Learn how to read a (&@ chart---uptrend, down trend, range....
Learn the number 1 technical indicator---the moving average.
Using the chart, moving average, carry out a simple stock analysis...
If you are buying in, going long, the share price must be trading in a range on the monthly time frame for the chart, or the trend must be bullish, slanted upward on a chart
Secondly, if you are buying in, wait until the stock price moves above the 50 day or 100 day moving average...
If you don't, you'll likely lose your cash!!