Credit Acceptance Corp (CACC.US)
Chart: D1
Our expectations: We expect the price to maintain the upward trend, after a correction to diagonal and horizontal support coinciding with 23.6% Fibonacci correction.
Alternative Scenarios: If the price goes back below the horizontal and diagonal levels of support, the positive scenarios will be spoiled and we are more likely to see a fall in stock price.
Comment:
Ascending trend
Correction to diagonal and horizontal support level
Correction to 23.6% Fibonacci retracement
Breakthrough of short-term diagonal in the upward direction - positive for the price
Price Action: the presence of two Pin bars forming a formation of two teats down the levels of support - a strong positive signal
Sequential displays a unit above the signal bar - a signal for a new upward movement
Demarker (8) - Turns out of and out of over-sales area - Positive for price and possible new upward movement.
Financial data of the company:
Charts: Bloomberg Pro Terminal
Jr Trader Petar Milanov
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
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