$ACE Technical Analysis of 1-Day Chart:

Overall Trend:

The chart indicates a strong uptrend, with the price consistently making higher highs and higher lows.

Key Indicators:

RSI (Relative Strength Index): The RSI is above 50, confirming the bullish momentum. However, it's not oversold, suggesting potential for further price increase.

Moving Averages: The price is above both the 5-day and 10-day moving averages, reinforcing the uptrend.

Support and Resistance Levels:

Immediate Support: The recent low around 2.30 could act as a support level.

Strong Support: The 2.20 level might provide significant support if the price retraces.

Immediate Resistance: The current price level around 2.35 could act as a resistance level.

Strong Resistance: The 2.40 level might be a significant resistance level to watch.

Potential Retracement:

A potential retracement to the 2.30 or 2.20 support levels could provide a buying opportunity for those who missed the initial uptrend.

Potential Target:

Based on the current trend and momentum, the price could potentially target the 2.40 level or even higher. However, it's important to monitor the market closely and adjust your targets as the market conditions change.

Trading Strategy:

Given the strong uptrend, a buy-and-hold strategy could be a suitable approach for long-term investors.

For short-term traders, a swing trading strategy can be employed. This involves buying near support levels during dips and selling near resistance levels.

Risk Management:

Stop-Loss Order: Always use a stop-loss order to limit potential losses. Place it below a recent significant support level.

Take-Profit Order: Consider using a take-profit order to secure profits at predetermined price levels.

Remember, while technical analysis can provide valuable insights, it's crucial to combine it with fundamental analysis and risk management to make informed trading decisions.