Daytrading with Consensus

[Ares]

AVCI just broke out of its ascending triangle with increasing volume.

[Ares]

AVCI created another hourly high.
Short squeeze is not too far away.
I don't know the short ratio for this stock though.

[mbaugh]

Short ratio is about 13.90% of the float according to yahoo

http://finance.yahoo.com/q/ks?s=AVCI

[Ares]

Back in at AVCI at 9.31
I hesitated getting in at 9.10 because I was looking at CIMT.
I see CIMT's true spread as far as I could see at 3.55 bid and 4.75 ask or 3.59 bid 4.18 ask.

Out a t 9.79 at AVCI because it had a hard time crossing 9.80 which was an hourly resistance.
It also broke the steep uptrend line on the 1 minute chart.
This may go up again later but I want to lock on profits.

[Ares]

Thanks mbaugh,
Applaud for your help.

[Ares]

Gotta go. I have to take my son to school now.

[Ares]

Another uptrending line started again on AVCI with current resistance at 9.63 on the 1 minute chart.
The upper downtrending line has already been broken.
Price  just needs to break through 9.63 first.
I'm new to wolf waves but it looks like wave number 5 is being pointed at around 9.20 right now on the 1 minute chart if 9.63 is not broken.
Current level 2 support that I could see right now is at 9.28,927, and 9.06 right now.
As time is progressing it looks like wave number5 is heading lower to 9.06.

[BigSully1]

Hey Ares. I just started reading your posts in the the last couple of weeks, with great interest Today i began reading some from the beginning and when I get time will read the whole thread. You're quite the interesting writer. Someday maybe a book?

Although daytrading would never be my cup of tea,  I am really beginning to believe you have the tenacity to persevere and build up enough to join 3SOF, diversify into longer term #SOF holdings and relax a bit.

Best of luck in your endeavors and am looking forward to your future  postings.

[Ares]

Thanks for the comment BIGSully1,

Keep in touch.

Ares

[Ares]

AVCI broke the first uptrend line that I drew and is currently using it as resistance.
This may head down to wave 5 compared to breaking the 9.63 resistance right away.

[Ares]

Unless price breaks and resumes above or even kiss the uptrend line I drew, it looks like support with the 5th wolf wave(I thinks) is heading towards the 8.88 support, then the 8.74 support.

[Ares]

I gave it the benefit of the doubt and drew a lower uptrend line than the first one. Price currently broke down below it too.
Those wolfwaves (I think) that I drew looks neat. I
t's as if it's an arrow pointing to a target on the map.
I just added a third (lower) uptrending line.
Let's see if this one holds.

[Ares]

Not looking good for longs at AVCI because following that arrow,I have to get out of the hourly chart and go to the daily chart for support.
Daily 200ma currently at 8.05.
I'll check which horizontal support that is closest too.

[Ares]

AVCI looks like it's about to tank.

[Ares]

AVCI hit the hourly support of 9.30 and produced a momentum low on the 1 minute chart, exceeded the BB with a high of 9.42, created a price low of 9.35.
Watching if price breaks 9.42 with volume.