Selling Climax ( SC) back in Feb and a secondary test (ST) of that at a higher level during this potential Accumulation Phase which is currently underway with ANN. The ability of the ST being at a higher level is nothing other than strength. Rush by the SMART MONEY to realign itself for the next potential MARK UP PHASE in the CYCLE.
The long term SUPPLY LINE ( Down Trend Line) drawn in Dashed Red colour is a significant BULLISH development that can not be ignored. The zone highlighted with yellow becomes a zone of SUPPORT ( zone of $18.00) where the SMART MONEY, on any pullback is likely to be active in their accumulation process again. The solid Green Horizontal Line is where I would personally be happy to call ANN in a new MARK UP PHASE ( a new BULL RUN ). That level is an end of week (EOW) close above $20.46. OBV at the bottom window also supportive of the potential accumulation process with ANN.
SUMMARY : Potential Accumulation Phase with ANN is likely to continue until a new mark up phase is confirmed with a new EOW close above $20.46. First Zone of SUPPORT around $18.00 is also highlighted with Yellow.
ANN weekly Chart below.
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