My charting tonight on
$AAOI. Here's what I have my friends.
$AAOI is in a corrective sequence from 233.67. The 1H and 4H shows a complex corrective sequence which appears complete. Great news! However, I'm concerned on the 1D chart which does not appear to me to be completed yet.. The fact that on the 1H and the 4H we do not have an exhaustive lower low which is what we would usually find.
My best read for now is I'm bullish with extreme caution.
$AAOI we need above 184.91 to start.
> 195 would be even better.
> 207.60–212.06, the correction is likely complete.
> 233.67, the 292–296 our w5 upside target is likely.
If we drop below 160.87, downside opens up 153.50–153.10 then 149.05–148.24 then 142–135 and a final push to 132.63 is possible. A break below 132.63 would materially weaken my bullish Primary IV thesis and $121.50 would be the magnet. RSI should ideally form regular bullish divergence to support a terminal low.
More of my notes in the comments. For now, the chart and RSI/Sto appear bullish.