This stock is going to "sleep" If you have a volume BO it could go either way. Better set up bracket trade on the slow centering. Attached is the ever narrowing trend segments and the envelope on the daily. you can see that so fare volume surges will not sustain a BO. All suges of volume leadto "fialure to BO" regarding price. It will take big time news to shake this guy loose. do an FA and see what news created what volume in the last three years. sleepy time for this guy.
Intersting chart analysis. The previous bounce that occured this late in the apex carried the stock from 40-65 in about 4-5 weeks. Say you have 4K shares on... that is a nice return for that unit. If instead of breaking down it rallies to the present upper limit of the narrowing range, then the price could be expected to reach 60+. That would provide a nice 10 point opportunity or better. Thanks for the pic bubba.
Good thread. Here is a weekly view - it looks like ACS is poised to fall off a cliff. First target would be the 200 Week Moving Average (red dashed), ~37.00. Next would be the 2002 low.
I put my reply in your quote.... I see all that your saying. I see the $41.50 to $43 range as a big thick slab of concrete that's going to need a big jackhammer of selling pressure. However, the overal trend of the stock suggests that this has a chance of happening. It would be interesting to see how strong that support is (stretching back to a couple of years ago).