First of all I'd just like to say that T/A is just a hobby for me.
Looking at the chart ... its in a down trend. $3.00 looks to be holding so far anyway but all the indicators are negative. Look at the MACD for example. I'd want to be in the stock when its positive not negative like now.
Same with the bollinger bands.
Accumulation/Distribution - well the sp was making higher highs but the acc/dis was making lower highs. Not so good.
Next big one is the moving averages. The share price has slipped below the 200 day MA and failed to hold it once already.
Perhaps this is a time to accumulate for the longer term holders. having said that my farther in law adopted the same attitude with CSV now look....the sp dropped from $2.75 - a low of 0.75c and now a take over has come in at $1.20. ( I admit the business and circumstances are completely different though.
Until the sp rallies above $3.40 and looks to hold that, its not going up in the short term.
DYOR this is just my opinion :)
p.s fundamentally nothing has changed, if anything things got better with the last announcement and royalties to come.
ACR Price at posting:
$3.03 Sentiment: None Disclosure: Not Held
