ABA is a classic example of what we call a "bullish R-4" trading opportunity. It's been profitable to those who took position when we wrote about ABA and posted our June 26, 2012 chart analysis. ABA has increased by about 53.73% from 0.67 to yesterday's high of 1.03.
ABA appears to be a 5th-wave terminal pattern as shown in this chart http://www.johnnykawa.com/wp-content/uploads/2012/07/ABA_July-13-20121.png
According to Neely's Neowave theory, a 5th wave terminal pattern will be retraced by 100%. And it does not stop there. The terminal impulsion being at wave-5 will mean the entire impulsion (waves 1, 2, 3, 4, 5) starting from wave-1 will be retraced.
ABA will go up to 1.12.
This likely scenario is supported by ABA's RSI which is now at a parabolic state. And it is noteworthy to mention that ABA has declared a 10% cash dividend of 0.10 per share, and a 10% prop dividend.
As always, trade with caution and at a level you are comfortable with.
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