Yesterday was a good day to confirm or pick out the weak stocks.
In my short positions, I have ACC and ARE flagging such signals.
1. ACC
Tenkan sen has turn and may cuts Kijun sen. Its closing price is lower than the November 2008 low. A bearish sentiment on this counter. And if you look at the price action of ACC for the past 1 week, you will noticed that it goes up one day (or two) and come down the very next day. It is just reluctant to hold at the $18-19 range.
2. ARE
The volume for ARE is not that high. Maybe, it is due to the dividend being paid out on April 1 and April 15. Â As it approach $32 – $33, I will be very careful and may take some profit off the table. For 3 times, this level has held up.
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