Australian Agricultural Company Limited (AAC.ASX)

14 February 2019



Technical Summary: In a booming bull market the stock of AAC has been a disappointment for its shareholders. There has been some mean reversion action for traders however. However this is difficult at the current juncture because the stock is not trading anywhere near any sort of support and instead looks to be in a downtrend. This downtrend accelerated in recent trading sessions with the stock gapping down on the open and continuing to sell off throughout the day before finding support at just above $0.90 per share. The stock had a natural bounce that might have been day-tradable. It difficult to ascertain if this is the bottom for the stock or if the downtrend will continue. Therefore it might be best left along by traders.

Dog of a performer continues

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