After the Gap up on April 30To $26.83
ACB has been a fall knife
with lower highs and lower lows on the monthly time frame
The stock gaped up from $7.39 to $26.83 at the end of APril...
A perfect example of FOMO and irrational exuberance...
Earnings are next week. Rumour indicates that ACB will announce another write down of $1.8 billion...
WTF....
I fully expect ACB to tank to the initual price of the Gap up last April, which is $7.38
Gaps are often filled...
Traders/retailers are being lulled to sleep---there is no way the expected loss is factored into the current share price...
I see a price of 7.38 or lower---based on my candlestick chart analysis on the monthly time frame...
ACB might not survive....Not a good stock to own...