Short
ACB Short- catching large corrections bull market
ACB is a great stock. Super cheap for amount they produce. I'm long in the long run
But I think there's substantial opportunity to make profit by shorting the stock as it experiences corrections in it's uptrend
Normally I wouldn't recommend timing a stock like this or trading against the trend, but it's not seeing 10% pullbacks on upward moves, it's seeing 50+ % corrections, which makes the strategy viable.
The macd indicates the stock is currently bearish, and if this correction follows the pattern of large pullbacks, we're about 1/3 into the move, leaving more room for upside than for downside- A nice KISS (Keep it simple, stupid) strategy
LIMIT: $9.90 (-5.50%)
STOP: $10.30
TARGET: $8.90 (+10.00%)
But I think there's substantial opportunity to make profit by shorting the stock as it experiences corrections in it's uptrend
Normally I wouldn't recommend timing a stock like this or trading against the trend, but it's not seeing 10% pullbacks on upward moves, it's seeing 50+ % corrections, which makes the strategy viable.
The macd indicates the stock is currently bearish, and if this correction follows the pattern of large pullbacks, we're about 1/3 into the move, leaving more room for upside than for downside- A nice KISS (Keep it simple, stupid) strategy
LIMIT: $9.90 (-5.50%)
STOP: $10.30
TARGET: $8.90 (+10.00%)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.