Although the recent insider selling of his own stock occurred most recently, considering from a technical perspective price has been on a significant run for quite some time its only natural to take profit. There may be further long entry, it may be better to wait after they report earnings as price may slightly drop if enough buyers don't step in. The bullish...
ALTR has taken monthly support and fib level of 0.61 (drawn weekly) with a bullish pattern, and bullish divergence. Could go up to 52.5-53 levels which are monthly and fib level resistance. Long trades can be profitable in near future.
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ALTR D1 review: XABCD BEARS // SHORT IT 30%/50%...
The price of Altair Engineering is moving in a clear uptrend-corridor. MACD looks optimistic, indicating no divergence and trend-reversal, but the RSI indicates overbought conditions and the moving averages are still pessimistic. I would go for a short-term long when the price is at its next swing-low inside the corridor or go for a very short-term short right now...
ALTR bounced from its bull channel's support and is now moving upward. If the price could break above its control price area and mid term resistance at $40 area, probably the stock price would continue its move to $44 or even higher.
I have been watching this stock for months, and trading it looks very easy, like picking money of the floor. On the weekly chart there is a clearly defined range.
The daily chart started turning down today after some false breakouts. The trade levels shown on the chart are the exact levels from my trading platform.
