Gap Up with some room to Run

15 apr 2018

ACB is looking good. I am expecting a morning gap up followed by a nice run to about 9.50 where things should bounce. The new support should come in just under 9$ after this. I am already in CRON for the morning but I will be looking to play ACB if it retests 9.00. After 9.50 we should run to 10.00 with maybe a bit of interference at the 200 hour MA at 9.75. The weekly Candle shows a nice green candle with a very long tail telling us that the bulls are back in control. I would be long on ACB for this week but have a reminder set for the 92 RSI range. 92 RSI like APH at 88 has seen 20%+ dips with the last one being in January where we hit the ATH of 15 and dropped down below 9. A 40% dip.

We should see a nice news boost later int he week and next Monday with 4/20 on Friday.