Text me if you have any questions/comments for me.
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ARB
- Previous analysis was done on 8 Sep - Suggested waiting for a successful rebound
- Since then, the stock has been sideways and looks trapped in No Man’s Land (blue highlighted zone)
- $48 levels used to be a resistance level (red arrow) and that resistance still holds (blue arrows)
- Stock keeps getting rejected by the short- and mid-term resistances
- The next support levels look to be the $44 levels
- A successful breakout of the counter-trendline (purple dotted line) may present half-position entry opportunities
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful breakout of counter-trendline
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ARB
- Previous analysis was done on 8 Sep - Suggested waiting for a successful rebound
- Since then, the stock has been sideways and looks trapped in No Man’s Land (blue highlighted zone)
- $48 levels used to be a resistance level (red arrow) and that resistance still holds (blue arrows)
- Stock keeps getting rejected by the short- and mid-term resistances
- The next support levels look to be the $44 levels
- A successful breakout of the counter-trendline (purple dotted line) may present half-position entry opportunities
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful breakout of counter-trendline