My prediction based on patter, share your opinionHello all,
Spent some time over the weekend analysing ACB to figure out what could happen within the next month or so. Here's my analysis and curious to see if you agree, disagree and why.
Nothing scientific, looking at day/4hours view, MACD, CCI, RSI and momentum.
So it seems like we're following exactly the same pattern that took place twice already since Dec 2017. Similar spikes (Dec 2017 and Sept 2018), similar drops following these spikes and the recoveries. We are now our way to another spike. However the KEY here is the drop from early to mid Feb 2019 that found support in the mid 9s rather than dropping to 6s as it did in August 2018. That right there is an important difference, which tells me that the pattern is repeating, however at a high SP.
That being said, I felt it would pass the 13s fairly quickly this week. Check, we are already seeing that. It will keep climbing until it tests the $14 mark. For a week or 2 it will bounce between low $13s and keep testing the $14 until it spikes again early April. We will pass the $15 then and then 2 possibilities. Or else it will keep jumping until we flirt with 52 weeks high or significant drop. I'm thinking we will pass the 52 weeks high because of what I identified as key before. However once we pass the $15.50 sometime around mid April, whatever happens next will happen quickly. My thoughts.. .we will pass 52 weeks high by mid-april and then drop back down in the $10s - $11s.
Any thoughts?
PLove