What to expect next for ACB short term Our last bullish candlestick pattern is confirmed and holds. So stay long is the call. That doesn't mean we won't see profit taking but so far, regardless what the bears here say, we are green and there is nothing to worry about tecnically.
We closed higher by 2.3% creating a higher high and higher low. So swing traders are holding with a stop loss in the $8 range generally depending on tradind strategies.
More short term technical indicators are turning to buy including:
| 7 Day Average Directional Indicator | Buy |
| | 10 - 8 Day Moving Average Hilo Channel | Buy |
Medium term and long term indicators are also turning to buy
50 Day Parabolic Time/Price
is now BUY
50 - 100 Day MACD Oscillator is now BUY Today's day candle is a black solid candle since we closed lower than open. Some Daytraders like Gordo, who is on ignore but gets quoted, might be expecting a red day or "dip" tomorrow to rebuy. Those who took profits on overbought 1hr would also be looking to rebuy.
The sector is bullish and expect the bear to use any dips to their advantage. Bulls should use these opportunities to buy on the dips and on a highly volative stock like ACB is a good way to catch any short term panic from long term investors who might not have the tools or experience to be sure of their positions after the formidable downtrend we just experienced.