I've been playing around with some charting software and just happen to be looking at Acrux. I'm only a beginner so take my chart with a grain of salt. This chart is up til the end of last week and I've drawn in the last few days as well.
The down trend of the last few months appears to have been broken. The 2.70 level represents the 61.8 % Fibonacci retracement of the previous one year's run-up and it appears to have bounced positively off this level toward the end of last month.
Also, while other stocks have experienced weak volume (10-30% of normal volume) generally the last couple of days, Acrux has had volume around the 200 day average.
I listen to 'Your Money Your Call' on Sky News Business and this stock has been mentioned the last couple of nights. The analysts have had positive comments about the stock from a fundamental and technical point of view.
Happy to discuss further
ACR Price at posting:
$2.97 Sentiment: ST Buy Disclosure: Not Held
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