AYI possible risePlaying Trading Simulator Game:
Historically, big drops are followed by steady upward climb.
Also, large daily range to play.
If holding long, it might be a good idea to order a trailing stop.
0H90 trade ideas
ACUITY Brands (NYSE:AYI). Watch to long on breakout.It is possible that AYI is in the 4th wave correction unfolding within wxyxz structure.
The trendline support (white) is right under the price.
Watch both trendlines (white and yellow) for further clue.
The breakout of the yellow resistance is a good buy trigger for the last wave up.
Permanant Bull !?AYI with a Strong bullish Chart.
Trading above 260$ will perhaps generate a new High @ 300$
The other Action Points are illustrated in my Chart
AYI GapThis could be a decent trade on the breakout above the top red line, allowing low risk and this is a slow gap runner but a good company
Acuity Brands ($AYI) - Long - Swing Trade
NR7 painted ended on the weekly chart
Very high volume on the daily chart w/ narrow range
Sideway, narrow range, price move for past 5-10 days
Near all-time high
AYI measured move up to $180?AYI initially caught my eye from the daily price action. The March 2014 resistance has been retested and is now support. Price is above the $150 half figure. And yesterday's breakout bar was very bullish on higher volume.
On the weekly chart the inverted head and shoulders also stood out as a reason to go long on this stock. A measured move would take price to above $180.
However, I am not confident that the right shoulder is correctly placed. At first glance it seems an ideal formation - the second shoulder is higher (preferable in an uptrend) and the neckline is sloping up (also preferable in an uptrend). But looking at volume the second rally was down on volume, which is not what we would want to see. This leaves some doubt as to whether the measured move is valid.
Overall, this is a buy opportunity (although I will not be trading it due to the thin volume) but a target of $180 is not realistic, at this stage.
Acuity Brands Inc. (AYI) potential breakout to 145-155 priceAYI volume surge upward to 201.61% yesterday which might make the price rallies to 145-155 zone according to Darvas' box system. As per Darvas, prices moving up and down the top "box" (coordinates 126-145) coupled by rising volume will trigger a potential rally. Looking in hindsight starting June 2013, "boxes" or sideways channel as per technical terms are piling up on top each other and will probably continue on. AYI has also good EPS rating , 81% compared to its group. I'll watch this stock and at the same time, setting up BUY stop order @ 143.89 using a BUY entry signal by Bill William's fractals and an initial stop loss of 127.
