NYSE: ACCO
ACCO is looking good on the Daily and Weekly. Prices are above the cloud and the TK just crossing above cloud (see highlighted green box) indicates a bullish move in the coming weeks. I have indicated two target levels to watch out. The nearest term target 1 at $14.45, and if cleared, target 2 at $16.15. RSI is fast approaching oversold territory and money flow (CMF) is falling so keep a look out for a small correction. However volume (OBV) is climbing and appears healthy so far and we might have enough steam to pull above to target 2.
If market condition changes, a pullback to the 55 EMA, which is also at the 20 MA at $12.55 should hold. Otherwise a fall below $11.50 will invalidate this view.
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