Let's start a charting thread for ACW considering it has a decent amount of liquidity.
After a nice little rise, I've wondered how much gas is left in the tank. Is the biotech sector turning? Is this just a traders dream with 1.9b SOI? Anyways, I'm no charter but like to get other peoples insights and views, here's a very, very basic chart.
The SP wicked outside the bollies last week, which is never a good sign, and as always dropped back into them the following days. We want to see the SP tracking nicely along the medium bollie line.
The SP is currently touching the SMA, which is a nice sign that consolidation may continue until the next leg up. Still no confirmations to make a trade if that's what you're looking for. Volume has also decreased which is more of an indicator of consolidation.
MACD is also turning which means w might see an SP decrease in the short term. But from the past it has looked similar and then increased again.
Anything is possible though, I'd be consolidating between this price and 3.5c if you can snag that price.
ACW Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
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