Today we'll analyze the Stock ACF for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 11.57$ (03/07/08) to 12.15$ (03/14/08) a 0.58$ move
2- The current bearish trend started from 12.15$ at 03/14/08 and is currently trading at 11.07$.
3- According to ADX, the trend is currently bearish,which is becoming weaker.
Short term chart patterns :
4- The Stock was resisted by a resistance line, identified by two points: 12.15 and 14.38 that was broken up at 11.07 transforming into a supporting line.
Mid term chart patterns :
None.
Long term chart patterns :
5- The Stock formed Double Bottom Pattern at 10.45.
Conclusion:
ACF was trading in a bearish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 11.32, 11.48, 11.61, 11.74, 12.15.
Support Levels: 11.03,.
We Moved!!
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Shadi
Monday, March 24, 2008
AmeriCredit Corp. (ACF) Technical Analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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