Acacia Communications $ACIA has been in a wild ride since its IPO in May 2017. It opened at $23 and shot up to around $128 before the dump. Then, we basically had a pullback all the way to the IPO price. After this rollercoaster ride, price is consolidating sideways, and coiling awaiting a directional breakout.ACIA Weekly Chart(click to enlarge)Back to Square One:- The weekly chart shows how price came full circle after a year. - We can say that the over-hype has finally died down. - Looking at the weekly chart, we can also spot a surge in volume when price finally dumped back towards original price in April 2018. - To me, this is a good sign that the market might be bottoming.Coiling:- The daily chart shows that price has been coiling after that sharp dump towards $25- We can also see that price is starting to form a range between roughly $32 and $35.65. - A close above $36 should be a good sign that the market is opening up a bullish swing with upside to $42 and maybe even the 2018 high around $45. - A break below $32 however, suggests we are not done with the bearish mode, or at least not done consolidating. Bullish Signs Ahead:- If price can break above $38 where the 200-day simple moving average resides at the moment, we can have more confidence for the bullish mode.- If price can push above 60 and then at least tag 70, we should have more confidence in the bullish momentum.- finally, if price pulls back but is anchored above $34 (middle of the current coil), we can also gain confidence in the bullish outlook towards $45. ACIA Daily Chart(click to enlarge)