Pretty brutal week for little old Atlas. I can't help but turn bearish now. I'm still holding because I managed to accumulate at 1.8c, if I were sitting at a loss I would be getting out for sure now, the upside potential and fundamentals are the only things keeping me interested.
However, if you're grasping at straws there are a few points worth noting:
-There are only two days of really bad price action that coincided with a pretty bad week for all global markets.
-Did anyone else notice the sell side didn't load up for the breakdown in price, rather the buy side dried up... Were accumulators in control and they slowed their buying...?
-From the January highs, volume has been declining, have we just experienced a selling climax?
-We were below the 200MA just days before the 2016 5c rally.
-Monthly chart is still looking good.
There are pretty solid arguments for both bears and bulls, however, I'm swaying to the bear side now.
Good luck to all
AGO Price at posting:
2.0¢ Sentiment: Sell Disclosure: Held
