AUSCANN GROUP HOLDINGS LTD (ASX:AC8) - Chart & TA, 38600163, page-242 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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4.0¢ auscann group holdings ltd

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jon6105

104 Posts.

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16/05/19

16:58

Post #: 38600163
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Originally posted by jon6105: ↑

Hi Guys,
Looks like AC8 is currently going to plan with a nice uptick in volume and price.
Back in May-July 2018 when AC8 broke the 200 day exponential moving average we saw a clear retest and rejection as I believe this ema is a highly respected moving average over a long period. Lining up with past resistances throughout 2018, the ema looks like a solid price to let go of some short-term shares with a rough reward of 75%. Based on previous explanation of rsi and macd divergences, a bullish opportunity has presented itself. Breaking the yellow 50ema and making a new short-term high above .460 will mean a high likely hood of the $0.60-0.70 sell target. I believe the potential here highly outweighs the negatives if you have a stop loss and profit target.
Cheers

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AC8 Price at posting: 39.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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