Bull flag on the hourly, daily chart on watch.

ACB has seen three cup and handles in a row, and we're currently in the handle of the third cup. Studying the hourly chart, you'll see a clear bull flag pattern has formed. We'll be looking for a higher high, and I am expecting to see CAD$12 / US$9.20, mostly because the last high was at CAD$11 / US$8.34.

For this pattern to complete, bulls will have to hold supports at CAD$ 9.90 / US$ 7.50 and CAD$ 9.50 / US$ 7.20. Daily chart on watch, hoping for new momentum to trigger the next leg up...

Commentaire:

ACB is likely to bounce off of the bottom of the channel, but before heading upwards again, I think it may meet resistance of the bottom of its original organic growth channel.

Commentaire:

Yeah, spot on :-)