Ascendasreit
The stock had been trading between $2.32 and $2.47 since 28 Mar. As we can see that this range seemed to be a level of resistance for the past months since Nov 2007. And today's breakaway gap (indicated by the blue arrow) is a positive sign that this could be the start of a bullish trend. Furthermore it is supported by a significant increased in volume and other positive indicators, such as CCI above +100 and RSI rising above 70%. And Accum/Dist is on the rise.
Recommendation
LONG at $2.57
STOP LOSS at $2.30
TARGET PRICE at $2.76
Reward/Risk Ratio: 0.70
Subscribe to:
Post Comments (Atom)
0 comments
Post a Comment