ACB Equilibrium

Buy on rumour, sell on news. Really great news about licenses in Germany, yesterday, wasn't enough to give ACB an impulse. This is a clear reminder that most investors don't really care about actual news. What we want is promises about pink clouds. We have had 3 of those pink cloud promises since January, inflating the price to a lower high on a period of a year.

After yesterday's news, a bit of progress that further solidifies that ACB may be a world market leader some day soon, we saw indifference and ever decreasing volume.

On the weekly, we see a range of indecision candles on the daily chart. Small, centred bodies with equal wicks under and over. Bulls and bears are in perfect equilibrium. Buyers are at the $8.85 range, giving bears the upper hand at resistance level $9.30. These will be the levels to hold next week. Break through support at $8.85 would send the price down to test $8.68 and lower, breaking $9.30 would send the price up to test $9.42.

Another thought came to mind just now, which is that the AVERAGE of ALL ANALYST TARGETS for ACB, is $9.15.

Have a great weekend, and please, DO SHARE SOME OPINIONS if you have them :-)