ARCP gapping down on higher volume
There's not much data on ARCP so a full history cannot be determined. But so far $10 has provided the main support zone for price.
Price gapped down but closed just above $10 on 29th October, which was the first opportunity to short this stock. It gapped down again on 3rd November, again on higher volume to the previous day. Although the bar closed higher than the open it is still a bearish bar so still a sell.
On the downside, at $7.85, there isn't too far for it to fall. Plus earnings are due out (which could cause undue volatility) on 6th November. A short-term opportunity only.
Price gapped down but closed just above $10 on 29th October, which was the first opportunity to short this stock. It gapped down again on 3rd November, again on higher volume to the previous day. Although the bar closed higher than the open it is still a bearish bar so still a sell.
On the downside, at $7.85, there isn't too far for it to fall. Plus earnings are due out (which could cause undue volatility) on 6th November. A short-term opportunity only.
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