Tuesday, September 13, 2016

Recommended, Top Performing Stock (1): Acacia Communications

Acacia Communications shares (NASDAQ:ACIA) are in a strong trending mode. This is our first top-performing and recommended stock. While there may be pauses and consolidations along the way, the market would generally move northwards.

The market has been going upwards since May 2016, and it has broken above the upper Trendline, going further upwards. The market is trying to consolidate at the present, but it would trend further and further north in the next several months.

The RSI period 14 is not below the level 50, which means that bulls are not dormant in this market. Thus, Acacia Communications would reach the distribution territories at 120.00, 130.00 and 140.00 in a foreseeable future.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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