We covered $ACIA back in late May, when BotTrigger initiated a Buy Signal on this IPO. We took our 1st entry at $35.15 (trade posted here). Since then the stock continues to exhibit very strong momentum. Yesterday we have added to the position at $51.36. We don't need to be perfect with entries, nor will we ever be. Today's pullback should be welcomed and is very much part of any healthy uptrend.
Some healthy sideways consolidation here at new highs would be nice to see - as it suggests energy is being exchanged and recharging for the next leg higher. Expect retracement even as far as to the $40 level. That is very possible but based on the setup, that odds of probability are for higher prices first.
View our original post from May 24th here.