Not sure how to post charts in here? Any help would be appreciated but I'll try to explain what I see IMO anyway (Not that anyone's listening but hopefully this will give some light to BI at least?).
Looks to me that we have one of two situations arising, either a descending triangle pattern (that indicates a bearish outlook) which is the most prominent looking situation is evolving indicating a "watch out" for all of us, or, if we are lucky there could be a double bottom forming, indicating a reversal. I would prefer the latter as I'm sure the rest of you would but it looks rather sketchy compared to the former.
Other indicators backing the descending triangle are that we are slowly creeping away lower below the SMA which is descending (I use 30 and 100 day) and the fact that we are following the bottom bollinger band downwards without actually crossing it (which if we're lucky could create a bounce back up if it closes below).
The only things I can see backing the reversal are if we do actually close below that bottom band (which will mean we'll have to settle for 4c for the short term if anytime soon) and that the RSI is showing a way oversold situation. (Unfortunately it often shows that with this stock so not really an easy indicator to go by). The next couple of months should prove very interesting to say the least.
Cross fingers, good luck to all.
AAR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
