AC - bounces from support made by previous gap down

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AC = 590 (0.9%)

AC after reaching a high of 615 corrected/moved sideways to test support made by the previous gap down, which previously was a level of resistance.

Applying a fibonacci retracement we can see that the 38.2% retracement at 530-535 is healthy and may continue to support the rally or uptrend.

AC might look to test the resistance of the all time high at 615 after bouncing of the said gap down support, as evidenced by the higher lows and higher highs posted after the bounce.

Resistance: 615
Support: 560

Good luck to all AC traders!

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