ACEN staged a relatively stable breakout after gaining more than +4% during yesterday’s trading. The stock’s behavior pushed the RSI into the overbought territories, hinting that some investors might start to take profits. However, the RSI still has an upward bias. The DMIs and MACD are also gaining strong bullish momentum. ACEN would likely sustain its general uptrend in the near term. The next resistance to beat is already at 9.12. Note that ACEN is nearing the YTD high of 10.09 that it tapped in early Jan

Buy on pullbacks

Weekly target: 8.45
Support: 7.75 / 7.28
Resistance: 9.12 / 10.09

Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.

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