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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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.