A2M Weekly Chart Outlook.

Taking a medium/long term analysis horizon with this analysis of A2M. As far as it’s long and intermediate term trends are concerned it is a CHARGING BULL. Only concern is the short term where we may see a follow-through effect to the next higher time frame (Intermediate term).  I will try and explain this.

It may appear as though we may see a short term KEY REVERSAL, should the price close at the low of the current weekly bar on Friday. This said, there are still couple of trading days ( including today) and a lot can happen. On the assumption that we have a KEY REVERSAL which is yet to be confirmed, expectation thereafter would be a potential flat price action behaviour or a pullback over the coming weeks as a correction. Just a theory, no more at this stage.

One thing for sure is that, A2M has been screaming OVERBOUGHT which makes it vulnerable for correction which may have already started. As long as the up trending channel in Blue is intact and it’s support line is respected on end of week (EOW) closing basis, anything in between is considered counter-cyclical move (correction). If (a BIG IF this is) the support line is violated decisively, A2M would then require an in depth analysis. No where near there as yet and the OVERBOUGHT LINE of the channel may even halt the short term decline.

Strong trends such as the one with A2M may be best if analysed on EOW closing basis in my humble opinion.

Weekly chart of A2M as at close on 01/11/2017.

No, I am not a holder. I wished I was !



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