The advice of chartists is not to buy while the share price is retreating from its recent peak. I understand that from a traders’ perspective. The problem is, once the share prices levels out and starts to rise again, as it surely will (perhaps violently after the next auction results are known), there’ll be very little stock available to buy - which is why the share price will be rising strongly! From a longer term investment perspective, the time to buy is when stock is available, due to traders’ exiting. If Atlas is selling a record number of pearls this time, and if prices remain around September levels as seems likely, revenues from the auction are going to be unprecedented. And less than three weeks to find out.
ATP Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
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