Ancestry.com Inc. is an online family history resource, with approximately 1.7 million paying subscribers worldwide as of December 31, 2011. The company's subscribers use its Web-based services and content collection to research their family histories, build their family trees, collaborate with other subscribers, upload their own records and publish and share their stories. Registered users have uploaded over 95 million pieces of content, such as photographs and scanned documents. It derives revenue primarily from providing online access to digitized historical records on a subscription basis. During the year ended December 31, 2011, the company introduced Fold3.com, as its Website specializing in military records; released mobile apps for both the iOS and Android-based platforms and it had approximately 1.8 million downloads, and developed technology to synchronize family trees between platforms, including online, mobile devices and Family Tree Maker desktop software.
To analyze Ancestry's stock for potential trading opportunities, please take a look at the 1-year chart of ACOM (Ancestry.com, Inc.) below with my added notations:
Over the last (9) months, ACOM has formed a strong support level at $21 (red). Starting in September of 2011, ACOM has tested that $21 level on (4) different occasions. In addition, ACOM has created an important level at $25, both as support (green) in May and a resistance (navy) several times since last October. The stock is currently pulling back to the $21 support.
The Tale of the Tape: ACOM is currently trading between its $21 and $25 price levels. A long position could be entered on a pullback to $21 or on a break above $25 with a stop placed below the level of entry. However, if you are bearish on the stock or overall market, a short trade could be made on a break below the $21 level.
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