ACB RESPECTING TRENDLINE !
Hello Traders,
Today’s chart will be on ACB – AURORA CANNABIS INC, respected trend line perfectly!
Points to consider,
- Trend overall bullish
- Broke resistance, now potential support on re-test
- EMA’s turning bullish
- Stochastic showing upwards momentum
- RSI broke its resistance
- Volume starting to increase
- Next local resistance areas are the .382 and .618 Fibonacci Zones
ACB has perfectly respected the upwards trend line and has broken local resistance now turning potential support upon retest.
The EMA’s have turned bullish upon this break signifying that further upwards is more probable. The RSI is quite bullish at given time too, it has broken its major resistance line thus has further upside potential; this will allow bulls to push price into next local resistant zone (.328 Fib).
Furthermore, the stochastic's are showing upwards momentum, however it’s starting to look over extended, we may see it cool of, this will allow for price to retest support before heading back up…
Volume is starting to pick up, very healthy in this break from resistance, we need to see the volume maintain a steady increase for this area...
Bulls can potentially test next resistant zone at the .382 Fib, posting a gain of around 18.64%, if a break of this zone comes to fruition, then a test of .618 Fibonacci is probable, posting a 50.81% gain!
What are your thoughts on ACB? Will bull have the momentum to push through local resistances?
Please leave a like and comment
And remember,
“It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
Today’s chart will be on ACB – AURORA CANNABIS INC, respected trend line perfectly!
Points to consider,
- Trend overall bullish
- Broke resistance, now potential support on re-test
- EMA’s turning bullish
- Stochastic showing upwards momentum
- RSI broke its resistance
- Volume starting to increase
- Next local resistance areas are the .382 and .618 Fibonacci Zones
ACB has perfectly respected the upwards trend line and has broken local resistance now turning potential support upon retest.
The EMA’s have turned bullish upon this break signifying that further upwards is more probable. The RSI is quite bullish at given time too, it has broken its major resistance line thus has further upside potential; this will allow bulls to push price into next local resistant zone (.328 Fib).
Furthermore, the stochastic's are showing upwards momentum, however it’s starting to look over extended, we may see it cool of, this will allow for price to retest support before heading back up…
Volume is starting to pick up, very healthy in this break from resistance, we need to see the volume maintain a steady increase for this area...
Bulls can potentially test next resistant zone at the .382 Fib, posting a gain of around 18.64%, if a break of this zone comes to fruition, then a test of .618 Fibonacci is probable, posting a 50.81% gain!
What are your thoughts on ACB? Will bull have the momentum to push through local resistances?
Please leave a like and comment
And remember,
“It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
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