Madrid
Long

Long position on Atwood Oceanics $ATW

NYSE:ATW   ATWOOD OCEANICS INC
77 1 2
$ATW has been showing a consistent upper trend for a very long time. Currently it is at the lower channel support line, just bouncing from the previous low pivot point . MACD Histogram is about to cross the Zero Line, which will give a buy signal, Stoch RSI shows an increasing momentum and the price has just crossed the both the 8ma and 144ma heading to the target at the mid range channel at $56.

On its way up it will encounter with the resistance of the 21 and 55 ma's. If those are pierced then it is very likely it will reach the mid channel area with a risk/reward ratio of 3.6

Disclaimer: This is not a recommendation to buy or sell securities, you are responsible of your own due diligence. The information presented is for educational and entertainment purposes only.
fxtechtrader
2 years ago
Thanks for the chart :-) If I look at Monthly, price is extremely overextended, another run higher is unlikely for me ( but it depends which timeframe you trade ). Price is currently ranging between 46.00 and 48.00, or 47.91 and 45.65. I will only trade this once it breaks out, and medium term looks lower for me. But good luck and once again thank you for the idea & this interesting stock ! Mike :-)
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