AIA has been trading in a descending channel for a couple of months – probably an Elliott Wave 4 I expect. It has broken out of that retracement and if that is into a Wave 5 it should take price back to at least the previous high of $9.45 but depending on how long it takes to get there the top of the long term channel suggests a peak closer to $10.
I bought in earlier when I thought price might break $8.70 but it didn’t and bounced off the resistance level to come back and test it again this week. Today it broke and closed above that level with volume so I have an initial short term target of $9.10, and as a short term trader I will probably take profit at that level.
There’s a time line around the 14th November and as this stock seems to respond to time lines I’d expect to see some reversal around that time - and that may coincide with price reaching my target (hopefully).
As mentioned in another post I’m a newcomer to HC and looking at the threads on this forum it seems the principle interest of members is low value stocks. For what it is worth I think buying cheapies looking for the big hit is a false economy. Nice when it comes off but I sleep easier trading stocks with good volume and value north of $0.10.
AIA
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Last
$7.09 |
Change
0.090(1.29%) |
Mkt cap ! $10.47B |
Open | High | Low | Value | Volume |
$7.01 | $7.11 | $6.96 | $6.090M | 861.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2076 | $7.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.09 | 7374 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1350 | 6.910 |
1 | 727 | 6.860 |
2 | 2685 | 6.850 |
1 | 1500 | 6.830 |
1 | 350 | 6.810 |
Price($) | Vol. | No. |
---|---|---|
7.200 | 2750 | 3 |
7.270 | 11364 | 1 |
7.300 | 750 | 1 |
7.360 | 1000 | 1 |
7.400 | 11193 | 4 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
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