AC/A Air Canada update

ac.a mar 28 2014

We are within spitting distance of our target established on Feb. 12 of about $5. A number of EW counts are possible here so we prefer to take our cue from other technical indicators. The RSI is close to a low and the 200 day moving average has krept up to meet the stock’s value. If short we would buy the stock back but going long “naked” is a more dubious proposition.