Originally posted by avagadro
I'll get the ball rolling.
Key support and resistance areas shown in green and red respectively. OBV is still up in the clouds so the recent sell volumes, as big as they feel, are still dwarfed in the long term by buy volumes.
Needs to hold this support area though otherwise there is nothing below until 32c and then some strong (and last) support at 22c.
I tend to think that if it punches through this support zone it will become uninvestable to most retail and unlikely to be any share price gains on it forever and a day.
So yeah, next week is make or break for AC8.
Yeah I was actually wondering if there was even a chart thread on AC8. Very surprising there wasn't given it has a lot of data to assist plotting.
On night shift and was actually tweaking my own as you posted.
Looking at the daily I have:
Solid volume selling into the downtrend
RSI still room before in oversold territory
MACD bearish crossover and breaking 0.00 line.
Slow Stoch Oscillator oversold but not reading into that too much right now.
As for the chart and magic 8ball shake shake shake:
Black solids are hard support / resistance
Greys are softer support / resistance
The rest is pretty self explanatory where I think it will head.
https://hotcopper.com.au/posts/37378687/single
I will respectfully disagree with your last statement though. Sheet loads of cash in the AC8 kitty and a path to commercialisation...all be it slower than most want...
MC hasn't even begun it's trajectory yet. It's all about accumulation in various MC for now.
Cheers for your chart and hopefully more posters will do likewise here now. Great to have alternate analysis on TA.