ACB has seen three cup and handles in a row, and we're currently in the handle of the third cup. Studying the hourly chart, you'll see a clear bull flag pattern has formed. We'll be looking for a higher high, and I am expecting to see CAD$12 / US$9.20, mostly because the last high was at CAD$11 / US$8.34.
For this pattern to complete, bulls will have to hold supports at CAD$ 9.90 / US$ 7.50 and CAD$ 9.50 / US$ 7.20. Daily chart on watch, hoping for new momentum to trigger the next leg up...
For this pattern to complete, bulls will have to hold supports at CAD$ 9.90 / US$ 7.50 and CAD$ 9.50 / US$ 7.20. Daily chart on watch, hoping for new momentum to trigger the next leg up...
Note
ACB is likely to bounce off of the bottom of the channel, but before heading upwards again, I think it may meet resistance of the bottom of its original organic growth channel.Note
Yeah, spot on :-)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.