ACY Recap

I haven’t mentioned ACY since the buy last week. With thin stocks that trade little volume I like to give plenty of room. The intraday charts of ACY are full of fast moves to pick up stops. This is a classic chart of a power stock. ACY broke out of the base in February. It ran from 10 – 22 rapidly. Retracement is around 50%. Support is the 20dma. Stocks will run 5 – 7 days usually if they’re strong. The first pullback like this has odds in it’s favor of working. Use daily trail stops under the prior day’s low.  Sell in partials on the way up, but stay patient.  The rest is history. History will repeat itself on another chart.