ATL 0.00% $1.03 apollo tourism & leisure ltd

ATL Chart, page-15

  1. YLJ
    819 Posts.
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    ATL broke out Friday on good volume from a 4.5-month Channel (daily chart),
    closing the week with strength (the most important price of the week, is Friday's close).
    Very nice continuation yesterday...
    I am not much of a fan of stand-alone Channel breakouts in general, but this coincides
    with a break of a 65-week Ascending Triangle (weekly chart). Coinciding patterns have
    much better success rates.
    The target for the Channel was reached yesterday at 0.42. The measured move
    of the Ascending Triangle indicates a target of circa 0.57
    I had too many alarms go off on Friday and this trade slipped through the cracks,
    picked up on it today while going over recently triggered alarms.
    I am not willing to chase this here but will look for a viable entry at around 0.37
    over the coming days, or re-assess next week if it can close the week above the
    upper boundary. Personally, I would place a stop loss at around 0.32...
    GLTA and well done if anyone caught that...
 
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