Atlas Crest Investment
Atlas Crest Investment Corp., also called Atlas Crest Investment, is a blank check company. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded on August 26, 2020 and is headquartered in New York, NY. The listed name for ACIC is Atlas Crest Investment Corp
Financials
Atlas Crest priced its $500 million initial public offering on October 27, 2020. This is another new public company. Not much to be said about the financials except that it grew to roughly 800+M since its initial offering.
Support and Resistance
As you can see this stock has only been on the market for a few months. But has shown huge upside potential. Even through the recent pullback this week
If this stock were to be analyzed to have a support area we it would be in the $9 – $10 range. As you can see that is a mark that is a distant memory from now.
So far, we have seen resistance at the $18 level. This could be from the recent market dip. I good resistance mark would be $16 – $18 area. at least so far as it seems in the beginning.
Weekly Chart.
The weekly chart for ATLAS CREST INVESTMENT CORP. is just starting to show 8MA trend line.
Of course, as you would expect, with this growth it is trending upward. Also you will notice the distance of this trend.
Just something to be careful of if investing.
Not much to be said here but great DD for those who got in early.
$ACIC Key Statistics
Some notable stats here is the market cap of 857M. This is up 357M from its entery into the market.
One factor to consider is not the shorts just waiting for a opportunity to jump on this. Given that there is 50M free float this number is also enticing.
Be aware and do some DD.
Also loving the low volume this is another reason why this stock can fly so quick.
2HR Chart
Yes, the 2hr chart among the favorites of a swing trader. Plenty of information here.
$11+ support level for the 200MA. not bad given that the stock came out flat at $9
$14 support level at the 50MA. This would be my start watching and getting ready to possibly buy a dip level. Plenty of strong support.
On another good note. the 20EMA has been consistent bounce support since price has crossed.
Final Thought.
This is a SPAC heavy time. many investors have at least 20% tucked away in these gems.
Be careful this stocks are highly volatile. SO it is highly recommended to take profit and take it early.
Now you need to do your own DD. This is based primarily off pure techicals.
Since. this has been a profit taking week. You might want to tuck some away here unless you are going the Bond route.
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