ATOM: Resistance Breakout
Trade setup: Price is in an Uptrend. It broke back above $10 resistance, which could signal resumption of uptrend, with +20% upside potential to $12 near-term. Stop Loss level at $8.90.
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $8.50, then $7.50. The nearest Resistance Zone is $10.00, which it broke, then $13.00.
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $8.50, then $7.50. The nearest Resistance Zone is $10.00, which it broke, then $13.00.
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