Fundamentals:
Its accumulation/distribution days have been terrible. Its company sponsorship rating is mediocre. However, its forward guidance is better than expected. Earnings were not as phenomenal as last quarter, but next quarter's earnings will be better.
....and price is struggling off the not-so-phenomenal earnings.
Technicals:
3 week tight range
Fake Weekly Bear Crown pattern zoomed in on a daily chart looks like a bearish H&S pattern that will fail.
Bullish Cup-with-Handle pattern
A short squeeze on ACGL will occur...
Daily stage 3 signal
Week:
Fake Weekly Crown
Conclusion:
Bears hopped in on the pessimism that flowed into this company and now they are in for a short squeeze. And, now this stock is up from its bear market lows, reaching near all-time highs once again. Shorts will cover and bulls will scramble to buy this stock.
Its accumulation/distribution days have been terrible. Its company sponsorship rating is mediocre. However, its forward guidance is better than expected. Earnings were not as phenomenal as last quarter, but next quarter's earnings will be better.
....and price is struggling off the not-so-phenomenal earnings.
Technicals:
3 week tight range
Fake Weekly Bear Crown pattern zoomed in on a daily chart looks like a bearish H&S pattern that will fail.
Bullish Cup-with-Handle pattern
A short squeeze on ACGL will occur...
Daily stage 3 signal
Week:
Fake Weekly Crown
Conclusion:
Bears hopped in on the pessimism that flowed into this company and now they are in for a short squeeze. And, now this stock is up from its bear market lows, reaching near all-time highs once again. Shorts will cover and bulls will scramble to buy this stock.
Kommentera:
lift off!
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.