Be Careful With Aluminum Corporation of China
Aluminum Corporation of China (ACH)
could be forming the right shoulder of a head and shoulders top, a bearish
price formation. The head of the pattern is a massive price bubble that
began June 13, 2006 at $15.21 and peaked on October 17, 2007 at $88.05,
a 478.9 percent increase.
Currently, ACH is up 39.12 percent from its January 30, 2008 low of
$35.76. The red dashed line on the chart suggests one possible downside
price path that defines the right shoulder of the head and shoulders formation.
Be careful with this stock.
Related Articles:
Anatomy of a Bubble Top
Price Patterns -
Bump and Run Reversal Top Defines Price Bubble
Price Patterns - Head
and Shoulders Top Is a Complex Pattern
Price Patterns - Support
Levels May Constrain Price Downsides
Posted February 24, 2008.
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