Note: This is not an investment advice but my opinion alone. Please feel free to comment.
The chart of ACRS is pointing to a reversal of the downtrend. I had bought a few share a few days ago based on the chart forming what is called an bullish RSI divergence. As the price continues to drop, buyers are stepping in to pick up shares as can been seen on the RSI. Last Fridays rally, was not a surprise but I would not say I was expecting it so it might still drop a few to continue the divergence. I may add to my holding if it drops further below my initial entry point during the RSI divergence period.
That said, one thing that looks to be on the horizon is a breakout of this stock. At what price it will break out, I cant say but with an analyst coming out with PT of 40+ and a readout could make it a reality.
The chart of ACRS is pointing to a reversal of the downtrend. I had bought a few share a few days ago based on the chart forming what is called an bullish RSI divergence. As the price continues to drop, buyers are stepping in to pick up shares as can been seen on the RSI. Last Fridays rally, was not a surprise but I would not say I was expecting it so it might still drop a few to continue the divergence. I may add to my holding if it drops further below my initial entry point during the RSI divergence period.
That said, one thing that looks to be on the horizon is a breakout of this stock. At what price it will break out, I cant say but with an analyst coming out with PT of 40+ and a readout could make it a reality.