FREE Technicals Talk: ACEN (6 Jan 2021) by Regina Capital Development Corp.
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Our Partner Broker’s Analysis and Opinion
| Stock Code | Company | Broker | Opinion Issued on | Support | Resistance |
|---|---|---|---|---|---|
| ACEN | AC Energy Corporation | Regina Capital Development Corp. | 6 Jan 2021 | 9.00 / 8.10 | 11.00 |
The stock quickly shed earlier gains after reaching an intra-day high of P11.28. ACEN was sold down during the second half of the trading session but closed a few points above the nearest support of P9.15.
All indicators are still showing bullish buy signals. RSI has calmed down somewhat to 70.75 (previously 91.19), but this means that ACEN is still overbought. Note that while MACD signals are still on a buy, DMIs are nearing convergence to a selling bias.
Closely monitor the P9.00 price level, for this is the crucial psychological support that cements the difference between a healthy pullback leading to a bounce and a solid breakdown.
Our Partner Broker’s Recommendation
Sell on rallies.
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OTHER TECHNICALS TALKS FOR THIS STOCK
See all the most recent Technicals Talks for this stock below.
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Regina Capital Development Corporation
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