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Straits Times 3,126.14 -8.57 -0.27%
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AAC Acoustic Technologies Inc ST: the RSI is overbought
Trading Central | 2019-09-19 22:33:00

Our preference: the upside prevails as long as 41.2 is support.

Our pivot point is at 41.2.

Our preference: the upside prevails as long as 41.2 is support.

Alternative scenario: below 41.2, expect 37.65 and 35.6.

Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 38.16 and 39.52). Finally, AAC Acoustic Technologies Inc is trading above its upper Bollinger band (standing at 45.99).

Supports and resistances:
58.85 **
56.6 *
54.35 **
52.1
47 (HKD-last)
42.55
41.2 **
37.65 *
35.6 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 09-20-2019 at 00:33 UTC+1
Price reference: 47.00 last known on 09-20-2019 at 00:33 UTC+1
Investment horizon: ST

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