ACB Bounce

Mar 27, 2020

No idea what caused that insane volume, but it certainly doesn't look like anything sustainable. If you followed my earlier idea's, you know that my targets all hit. I don't know whereto from here, but since today's spike looks topped out, and we're headed into the weekend, perhaps we can try some FIB Retracement to see how it will drop back down. It worked with Canntrust from $10, perhaps it works the same here.

I suppose this is just one of 3 or more possible scenarios, but this is the one that I think is the most likely, for now.

Mar 28, 2020

Note

Looking at ETFMG's holdings, it becomes clear that they were updated last week. Rebalancing could explain the sudden increase in volume, just like it did with XLY, CTST and others, in December.

Looking at ACB's demise, there are several bounce attempts, and each and every one got rejected at or below the MA50. ACB is well below MA50 at the moment, and from the looks of it, we'll see a move back down to $0.92 on Monday.

Mar 28, 2020

Note

Here's a chart of ACB's previous bounce attempts. Trade safe!

Apr 1, 2020

Note

Well, that was spot on. LOL!!!