I see a Nice Range Trade till Now. But if it break Resistance around $3.50, it can run till $4, but even till $8. Analyst say about $7
AERC has been building momentum towards the end of the day which has it poised for a pullback rally in the following few days just before the weekend! It has freshly broken the SAR on the Daily Chart with strong upside volume. I'm looking for continuation to the $17.77 marker in the next couple days.
*** Chart Update 6/22 *** AERC appears to be holding and consolidating on necessary key levels as of now which keeps me bullish on the play. I have added shaded regions from the top of leg 3 for retracement zones. It would be really nice to see this hold above 16 however does have room to retrace all the way down to around ~$14.25 without breaking the Elliott...
After spending a long time analyzing ticker $AERC, we found some anomalies that may have skewed detection of a proper Elliott wave pattern. The long short of it is that outliers, two events; the massive sale of short exempt shares, and consecutive market crashes caused anomalies in the formation of the Elliott wave pattern skewing it from showing where the move is...