ACB price is heading to $8.0 level and it may be its target, in case the dynamic resistance level (50 periods EMA) does not hold and the Bears does not interrupt and prevail
Resistance levels: $8.0, $8.4, $9.0
Support levels: $7.4, $7.0, $6.1
ACB Medium-term Trend: Bearish
On the medium-term outlook, ACB price is bearish. Immediately the bearish momentum pushed the price to touch the support level of $7.0, it reversed. The Bulls resumed into the ACB market and the price increased towards $7.4 level, broke up the 21 period EMA upside, targeting $8.0 level.
ACB price is heading to $8.0 level and it may be its target, in case the dynamic resistance level (50 periods EMA) does not hold and the Bears does not interrupt and prevail. The stock is trading in-between the two EMAs which implies low bearish momentum. Meanwhile, the Stochastic Oscillator period 14 is at 70 levels with the signal lines pointing up to indicate a buy signal.
ACB Short-term Trend: Bullish
ACB is bullish in the short-term outlook. The Bulls eventually broke up the barriers at $7.4 level and the price moved towards the resistance level of $8.0. The Bears interrupted and the price pulled back to the broken level.
However, the Stochastic Oscillator period 14 is below 75 levels with the signal lines pointing down to indicate a sell signal.
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