The stock continues to respect its RSI. Every time it nears the overbought region, a healthy pullback ensues soon after. This was the case yesterday when ACEN hit a high of 8.97–RSI bought intra-day–then pared its gains towards closing. This movement puts ACEN well within its upward trading range, and we see no cause for a possible breakout or breakdown anytime soon.  In early June, ACEN also formed a golden cross, which, on a technical basis, supports the mid-term slow uptrend that the stock has been exhibiting the past few days.

Hold.

Support: 8.50 / 8.00
Resistance: 9.00 / 10.00

LEAVE A REPLY

Please enter your comment!
Please enter your name here