- ACI is down 30% from its March highs. That’s a rapid fall for just 4 months. ACI is now at long-term and medium-term support. Chart 1 shows that ACI is now at support from its 2-year uptrend line. ACI is also at support from its August 2021 breakout. ACI has a rallied from this support level 3 previous times in the past 12 months: OCT 2021, JAN 2022, and MAY 2022 (chart 2). The zoom chart shows that ACI is now facing resistance from its 4-month downtrend line. TPA believes that the long-term patterns will win the day and ACI will soon breakout (zoom chart).
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.