ACB to start next impulse wave

5 feb 2019

My sentiment on ACB is currently bullish, based on the following:

- EMA 50/200 cross down on the daily december 20th 2018 marked loss of the daily uptrend and start of weekly consolidation
- EMA 5/20 cross up on the weekly formed yesterday with strong close and after hours action
- EMA 50/200 cross up for ACB is very close on the daily, signalling end of consolidation (not shown on this graph, check the ACB weekly EMA cross 50/200
- Cup handle break-out pattern completed
- Volume surge of 64M + 3M after hours; which equals 2 times the average 3 monthly volume
- Good upside potential, acceptable downside risk
- Bounce of on 0,618 Fib retracement. Long term uptrend intact, ACB is in a strong uptrend on all lower timeframes (2H/4H/daily)
- Sector momentum

Most likely scenario:
- Be wary of profit taking; use protective stops!
- Form Lower high compared to october 2018 top; estimate 9,5/10 USD depending on follow through
- Retrace to higher low; estimate 6,4 USD range
- Bounce and move on rising bottom support to horizontal resitance on previous highs; break to new all time highs

This may take some time to play out on the longer timeframe. This is not investing advice, just my vision of how this may evolve. Always do your own research, don't but off random tips on the internet!

Peace, all comments are appreciated!

5 feb 2019

Nota

*buy off

5 feb 2019

Nota

Big day of profit taking, now sector wide consolidation
ACB inverse head & shoulders on watch on the 5 minute timeframe

5 feb 2019

Nota

Watching 4H timeframe for most clarity

5 feb 2019

Nota

ACB and CGC held strong during this day of profit taking. Also pay note Citron short alerted Cron; emotions are visible in volatility today. Stay protective, watching the levels.

6 feb 2019

Nota

As per yesterdays warning (Citron) this seems coordinated selling. Also notes that bearish articles are reappearing spreading fear, selling and stop loss triggering. If you're long this stock, stick to your game plan. What goes does must go up and vice versa (mean reversal).

6 feb 2019

Nota

* that's a load of typo's but you catch my drift

6 feb 2019

Nota

From the looks we have entered sector consolidation and ACB is looking for a new base of support. I expect a small retracement to the upper 6 dollar range which may provide opportunities to add to your position.

Furthermore the chart is still looking good. The hourly uptrend is lost but ACB is holding up well compared to peers and bears don't get much follow through as of this moment.

ACB bulls still have a ton of room to work with as on the 4H the uptrend is still intact but a new higher low needs to form compared to the hourly low of the all out dump.