ENTRY: 6.94
SL: 7.97
TP1: 5.75
TP2: 4.58
- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Stoch RSI breakdown 70 and pointing downwards.
- First breakdown on 9 May 2022 followed by retracement to support-turn-resistance area, and price moved down further obeying the 10EMA.
- Entry based on breakdown and >3%...
Alpha Tech appears to be blasting off on its way to earnings in November. However that is a month away. With an RSI of 92 on the 3 hour chart and a sell signal from Divergence+, I too give this a sell rating. It is also far above the 3 hour moving average. All these signs show that ATEC is due for its own correction.
This indicator may be signaling that ATEC's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. I backtested 96 similar cases where ATEC's Momentum Indicator exceeded 0, and 81 of them led to a successful outcome. Odds of Success: 84%.
Might get a little choppy on the way, but it looks like we will be trending up for the next couple weeks.Look for a breakout between $5.50-6 when volume starts to kick in.
I believe that ATEC might have an upward reversal for a profit of a dollar per share. $6.50 is a key level of support for this stock. Currently, it is at this level and showing signs of a reversal. Wait for a small breakout ten to twenty cents would probably work. NASDAQ:ATEC
Biotech company. Most don't care but wave count looks good to me. Great bullish divergence in the weekly RSI. Good increase in volume at "C" (see weekly). For me the target if it breaks up is around 8-13. May still see one more drop to the .62 level on the daily. Some may want to wait til down trend line broken.
Process your way.
Chart looks a little over extended and did not could break resistance well at eod. I think there could be a pullback on this and if it breaks 0.39 I feel it could drop below 0.35.
I will short straight out the gate with my risk being 0.45/0.46 and if it drops straight away will look at taking profit at 0.35 or below for a 16% gain or above depending how well the...
