Tom, ATY was a great stock to ask this sort of question about.
I follow this stock, pretty much daily.
I do not have a position at this time.
I made quite a lot of money from this stock, last year.
And, I have been totally fooled by it this year.
I've been watching the chart in amazement, and I've been unable to pull the trigger because I thought the fundamentals would sink the stock. It hasn't happened.
On this daily,
stockcharts.com[e,a]dallyimy[dc][pb20][vc60][iUd20!Ub14!Ll14!La12,26,9!Lp14,3,3!Lc20]
the buy signals from the 20 day MA and the positive cross of the DMI lines, and the rising MACD when the ADX started rising indicating a Trending Period, all should have been enough to cause me to buy. They weren't.
I have now divided the stocks I follow into two groups;
those with weekly price lines above the 20 week MA,
and those below.
I am trying to confine my trading to those above.
And I'm watching for those just crossing.
My take on ATY, for now, is that I've missed the boat.
I'm going to try to catch the next one.
ATY may well continue to rise as I don't see any clear evidence to suggest this is the top,
but I'm still stuck on those fundamentals and I can't overcome the concern that one of these days, the fundamentals will matter.
If I do take a position here, I'll wait for a pull-back.
This daily 20 day MA is at 11.14,
it looks like if it retraced and bounced off the 20 day MA, that would occur at about $11.50
I'm not much help.
On stocks that run with no previous evidence from the charts, I'm philosophical.
On stocks like ATY, I kick myself every time I look at it.
Cush |
