ACIC Engulfing Price Spike, Long Uptrend Insurance
Updated
ACIC on the daily chart looks like a solid swing trade until at least the next earnings. The last
trading session had a hugh 10-15% move with a corresponding spike in buying volume.
The earnings report is about a month away. I will drill down to a 120 minute time frame
and look for bottom pivots from which to accumulate a position for the pre-earnings
run up. It is an insurance stock, a conservative financial services play which from the chart
looks safe with a good possibility of some gains in the upcoming month.
Yeah if you look at the chart carefully you will notice that ACIC did 8X in 2023.
trading session had a hugh 10-15% move with a corresponding spike in buying volume.
The earnings report is about a month away. I will drill down to a 120 minute time frame
and look for bottom pivots from which to accumulate a position for the pre-earnings
run up. It is an insurance stock, a conservative financial services play which from the chart
looks safe with a good possibility of some gains in the upcoming month.
Yeah if you look at the chart carefully you will notice that ACIC did 8X in 2023.
Trade active
Price action in consolidation for this long duration swing play.
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