ACIW Bullish Reversal
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ACIW Inverse head and shoulder pattern that's been forming the past 7 months. It just broke the neckline and from 2/22 - present it has seen support at the neckline. dmi has been below 25 for 3 months and 11 days and the best trends begin after periods where dmi crosses back and forth under 25 for a significant period of time so a break over 25 could be important. 5 day ema crossed through 15 ten days ago and they're diverging. Its in a consolidation thats price range is the same as another consolidation from 4/23/14 - 2/13/15, the older consolidation broke out into an uptrend. What I don't like is RSI is 64, rvi (relative volatility index) is 70, and the short ratio is 7.78. These are signs that it may be overbought but i think thats fair considering the past 7 months when its reached prices like this its gone down. If it does breakout im estimating resistance around the 22.50, that estimate comes from the depth of the head projected over the neckline. Nota
DMI is directional movement index please ignore the percent changeNota
also ignore the RVI percent changeNota
i expect resistance around 22.50 - 23.00
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