ACOM is setting up a potential 20 week Cup & Handle offering a buy point at $21.45
I love the fact it's an IPO and potentially under owned. Last quarter ACOM announced 50% EPS growth and 36% sales growth. It is in the Internet content group.
**One thing to keep in mind is ACOM has a fairly low float (24MM shares) which can make it somewhat "whippy". ACOM is relatively thin trading 200K+/- a day. You typically want stocks that trade 500K minimum. Therefore, ACOM positioning size may need to be smaller than normal.**
Technically, what I particularly like in it's Cup & Handle base is the handle held above the 50 Day Moving Average during the recent market correction. Also, its relative strength line is near new highs at 91. Monday provided an early entry as volume was higher than any day for the past several weeks. It probably is the clue that institutions are jump starting the actual pivot point.
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