Credit Acceptance Corp (CACC.US)
Our expectations: We expect the price to maintain the upward trend, after a correction to diagonal and horizontal support coinciding with 23.6% Fibonacci correction.
Alternative Scenarios: If the price goes back below the horizontal and diagonal levels of support, the positive scenarios will be spoiled and we are more likely to see a fall in stock price.
Correction to diagonal and horizontal support level
Correction to 23.6% Fibonacci retracement
Breakthrough of short-term diagonal in the upward direction - positive for the price
Price Action: the presence of two Pin bars forming a formation of two teats down the levels of support - a strong positive signal
Sequential displays a unit above the signal bar - a signal for a new upward movement
Demarker (8) - Turns out of and out of over-sales area - Positive for price and possible new upward movement.
Financial data of the company:
Charts: Bloomberg Pro Terminal
Jr Trader Petar Milanov
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.