ACI-Maybe We'll Get a Shot...

ACI has had some major changes in character, although by looking at price alone it may look like volatile chop, look a little deeper and there's a change in character there that's more important than Friday's +29% earnings/dividend announcement move.

I'm hoping ACI will not only give us a shot, but it will come to us on our terms.

 Like UNG, a 5 day chart of ACI shows a clear change in character in ACI, this is what we first saw in UNG long before it turned bullish.

 A 1 day chart shows several possible options, a breakout from a rectangle, perhaps a rounding bottom, maybe a "W" base, there are a lot of possibilities, but I would think based on some of the changes in character, ACI seems like a good candidate to build a larger base which opens up opportunities.

 The 60 min chart show a clear change in character.

 A close up of the 60 min chart shows several accumulation zones, but more interestingly, when ACI went  bit too high on a bounce, there was a negative divergence sending it lower, as if the accumulation/base stage is not over and at lower prices the positive divergences popped up again. Currently we don't have strong reason based on this chart to hope for  reversal, but where 3C stands now, it only needs a turn down and then the probabilities go way up.

 The 3 min chart of recent trade shows a negative divergence bringing price down to lower levels where it was accumulated at better prices, this chart also gives some hope that ACI will turn down once again, that's where we can find opportunity.

 The overall 30 min chart is very bullish, but once again, if 3C turns down soon before making a higher high, we have a good shot.

I'll be watching the 4 day trend channel where the top of the channel is at $7.30, hopefully we'll see a reversal somewhere in that area.