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Atlas Lithium Corporation

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ATLX trade ideas

ATLX Atlas Lithium Correction To ContinueBy the looks of it ATLX still has some more room to correct and consolidate. The hype was really intense during the last run up. Lots of bag holders still waiting to get out after buying the top between FWB:30S and $40s. The MACD is pointed straight down on the weekly and still has lots more room to go before a possible curl up. The RSI is also pointed straight down and the Stoch RSI is pointed straight down and these are all on the weekly. Also ATLX has formed a megaphone top pattern and in my opinion its going to correct all the way down to the bottom of the megaphone at around $6 as I predicted in my last chart update. If the Megaphone breaks down below the bottom line then ATLX could head to $4 and then begin its possible reversal up. Still lots of hype in this stock so I am assuming that the correction is not over. If the Megaphone pattern breaks to the upside and breaks above $45 its previous high then this stock is going to go straight to $80 and possibly $175. I dont see that as being likely from the chart and the company fundamentals aren't very solid and possible shady business practices from recent reports that I have read. This is not trading or financial advice this is just my opinion. Thank you
NASDAQ:ATLXShort
by Bitgolder
2
ATLX Is About To Surprise Everyone $377-$522 Per ShareATLX is poised for massive gains over this next year and possibly sooner. Without getting into the fundamentals too much, if you look at Sigma which is very comparable to ATLX their market cap is around 3.5 billion. Sigma stock price is only in the HKEX:30 range because they have a ton of outstanding shares and a giant float. They have 107 million outstanding shares and a float of 103 million shares hence their HKEX:30 dollar price on their stock. The huge difference here is ATLX has only 6.7 million outstanding shares and about 4 million float. If we're assuming that ATLX reaches a market cap of $2.5 Billion which is still HKEX:1 Billion less than Sigma and other similar Lithium companies then the price of ATLX stock could reach a minimum of HKEX:377 dollars per share because of their low share count. Just divide $2.5 Billion by 6.7 million and you can see that. If ATLX reaches the same market cap as Sigma at 3.5 Billion then the share price would be a whopping HKEX:522 dollars. Sounds insane right but its not. ATLX has had some really awesome drill results, some of the largest mining area, and the world is moving towards green energy and vehicles and Lithium will be extremely sought after. China is buying more than you can imagine and seeing how China and Brazil are buddies..... Good luck out there and as always this is just my opinion and not financial advice of any kind. Thank you
NASDAQ:ATLXLong
by Bitgolder
8