ACRT....ready to pop again? Could be...
ACRT...in this first chart, you can see the security contiues to
move nicely following the dictates of the green trendline.
geocities.com
This is exactly what you want....higher troughs et al. Even in weakness
after the "step ups" it merely tests the supporting trendline and then
proceeds with another surge.
A very common....yet satisfying pattern...profitable as well. As you can see
it now moves above it's 50 day moving average. Full health will be attained
(technically speaking) as is passes above it's 200 day moving average
around 18.
By the way, notice the security has just pulled above it's 6 day weighted
moving average (cyan line). This is one of my favorite buy signals when
CONFIRMED by other indicators. Note the results when that has happened
in the past.
A slightly more conservative tact would be to enter as the cyan crosses
above the magenta (10 day weighted) with confirmation. Both of the
aforementioned signals are "early" signals...as are all the momentum
signals....so take heed....they can be false starts. I mention them from
a trader's standpoint.
ACRT chart....a follow up to a chart I posted last week.
Notice the results....usually rapid....when the Projection oscillator
crosses above the trigger line. Quite effective
even during the downturn.
geocities.com
As I mentioned this is NOT one of my favorite indicators, I do
find it worthy of note in this case.
By the way the "trigger line" in the top box is of my own making, not a
recognized indicator.
This next chart tends to confirm the previous chart, by showing
what the results have been when the momentum indicators
pull up in unison from oversold...as is happening now. Just follow the
blue vertical lines down.
geocities.com
10 day CCI,Williams%R, 5,3,3 Stochastics and a juiced up 3 day RSI.
Just a note of warning.....the fact that these indicators have led the price with
consistency of late, does not guarantee they will this time. False signals can
occur.
Another triangle pattern....again, most likely to be resolved in a violent
movement with heavy volume....just as the recent Bollinger squeeze.
geocities.com
Some info on triangles etc.
chartpatterns.com
So, now what? Let's assume we get the indicated 3-5 point pop....
Is that enough to cause serious covering? Possibly not.....in which
case I would anticipate a return to that ever rising trendline....which
will be higher then, than it is now....
Assuming this trend continues....the following pop should carry us into
the low 20's....it could get interesting...hmmmmm, actually it's kind of
interesting now. Is that confusing??? I'm speaking of the pop after this
one...assuming there is this one....whatever....
A general warning.....if you use TA at all...use it only as an adjunct
to fundamental research....as an aid in entry and exit points. None of the
above takes into account, general news or news specific to ACRT....
other than that which is naturally reflected in the chart.
As inexorable as this climb appears right now....things can and do happen.
Please take note of the Nasdaq charts.
Good luck,
Stan
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