ATOM: Channel Up Breakout
Trade setup: Price remains in an Uptrend, however, following a bearish breakout from a Channel Up pattern, price could pull back to $8.50 support (also 200-day MA) near-term, which could be an attractive swing entry, with upside back to $13.00 thereafter.
Trend: Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $10.00 (previous resistance), then $8.50. The nearest Resistance Zone is $13.00, then $15.40.
Trend: Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $10.00 (previous resistance), then $8.50. The nearest Resistance Zone is $13.00, then $15.40.
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