Hi Tom,
I must of been asleep at the switch on this one. What a nice looking chart!
I have two concurrent (but differing) trains of thought as I stare @ the weekly chart. The first one is, that maybe a buystop @15.20 or so may get you in if the stock can get past that significant resistance where earlier buyers would be quite happy to unload their stock that they bought at this level sometime ago. I'm figuring that if the the stock can blow past this level it might have running room at least until the $20.00 level (just eyeballing the chart so #'s may not be exact).
My other thought is to wait for a retracement to the 21 day ema (currently around $11.00), along as the DMI does NOT confirm the move to the 21 day ema. (in other words...does not cross-over)
On the daily chart stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14] ADX is trending merrily @ 42, (which is unsustainable... although it could stay that way for a long period of time before the trend weakens.)
At this juncture the chart appears very oversold (naturally the oscillating indicators are the culprits), while MACd is still in a very serious uptrend (reflecting the strength oof the ADX)
On the PnF chart stockcharts.com ATY is still under the BRL (bearish resistance line) currently @ 18.00. A double top breakout was confirmed - very bullish (double top = when a column of "X's" makes a higher high than the previous column of "X's" (the last column of "X's" was Feb 01 indicated by the red 2 in that column)) Note that the average price indicated by PnF in 11.00$ which fits in with the theory of buying this stock on a retracement close to the 20 day ema.
My guess is & as long as I don't forget, it that when the NAZ takes a terrible tumble in the next few weeks or couple of months (down then up then down bigtime- perhaps in the fall... maybe sooner...) this stock will become a screaming buy. All FWIW & thanks very much for putting it back on the radar screen.
Regards,
Peter
edit Cush said in his post (a couple of posts ago) ...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 Nice observation! & I agree 1000% |
