Chart & TA, page-6

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avagadro

13,202 Posts.

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09/02/19

23:06

Post #: 37387971
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Originally posted by Syadyppah ↑

Originally posted by avagadro
I'll get the ball rolling.

Key support and resistance areas shown in green and red respectively. OBV is still up in the clouds so the recent sell volumes, as big as they feel, are still dwarfed in the long term by buy volumes.

Needs to hold this support area though otherwise there is nothing below until 32c and then some strong (and last) support at 22c.

I tend to think that if it punches through this support zone it will become uninvestable to most retail and unlikely to be any share price gains on it forever and a day.

So yeah, next week is make or break for AC8.
Yeah I was actually wondering if there was even a chart thread on AC8. Very surprising there wasn't given it has a lot of data to assist plotting.

On night shift and was actually tweaking my own as you posted.
Looking at the daily I have:

Solid volume selling into the downtrend
RSI still room before in oversold territory
MACD bearish crossover and breaking 0.00 line.
Slow Stoch Oscillator oversold but not reading into that too much right now.

As for the chart and magic 8ball shake shake shake:
Black solids are hard support / resistance
Greys are softer support / resistance
The rest is pretty self explanatory where I think it will head.
https://hotcopper.com.au/posts/37378687/single

I will respectfully disagree with your last statement though. Sheet loads of cash in the AC8 kitty and a path to commercialisation...all be it slower than most want...
MC hasn't even begun it's trajectory yet. It's all about accumulation in various MC for now.

Cheers for your chart and hopefully more posters will do likewise here now. Great to have alternate analysis on TA.

Expand

FWIW I do not actually disagree with your TA view really. I do see the current area as a key support space for the stock and TBH if it cannot break it with this kind of sustained escrow selling then I'd say it won't break it.

Interesting to note that January was an RSI downtrend breakout technically on a lot of stocks, including AC8 and such breakouts normally always are followed with a consolidation with a slightly higher RSI on the daily. So far AC8 seems to be filling that scenario.

A final drop Monday IMO followed by a move up. News and holder notices will be interesting this week.

AC8 Price at posting: 44.0¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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Chart & TA, page-6

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