Carl Ichan's Diversified Gem

ACP (American Real Estate LP) is a stock that I have been following for some time, but just couldn't understand. Although the stock was easy to follow and keep an eye on, the company itself is another story. Is it a gaming play? Could it be a real estate play? Or better yet, is it a fabric and textile stock? The thing is, it is all three and then some. ACP at its core is a diversified operations company that branches out to several different industries. Its main parts are in commercial/industrial and residential real estate, several gaming facilities, resorts and fitness centers, and lastly, home fashion products and accessories (that's quite a bit). While what the company does may seem interesting, it is really the chart that has caught my attention.





ACP




ACP has taken quite a dip from its past highs. Despite this, the stock has found strong support at it's 200 day MA and seems to be ready to hit new highs soon.