ACI- Follow Up

I also mentioned ACI on July 30th as a potential long we might get  shot at on a pullback.

Here are the charts thus far, although it's still very early in the day and a funky day at that. Perhaps we will get a shot at this one playing in to our hands, it's worth keeping on your radar.

 This 60 min leading positive divergence in a small base-like area is what caught my attention, the recent parabolic move is what made me think we might get a shot at this one long on a pullback as parabolic moves rarely hold. In addition, for a divergence of this size already, I'd expect a little bigger price base as we rarely see "V" shaped reversals.

 Here's the daily chart, today's candle THUS FAR, is a short term bearish reversal candle called a "shooting star", at least it's VERY close to one, the psychology is the same.

 Here's the short term 3 min 3C trend, which looks like a near term pullback was in the works any way.

As for target areas...

 The 10/22 day ma's are a reasonable target, however the market isn't always reasonable.

Here's a longer term Trend Channel stop , the area is around $6.00, this doesn't preclude the possibility of a move below the bottom of the base at $5.00, which would be a VERY interesting set up.