Interesting finish to the week. You can see that we back tested the green horizontal and found support. This was previous resistance after the FDA announcement at the end of June / early July. This also coincides with the 50 day EMA (orange line) which we have found support for the second time. In fact, this is the first time in a while where we have found support coming down into the 50 day EMA. You can see that the 50 and 200 day EMAs are converging, with the 50 day EMA having a positive gradient. The next 2 weeks could be very interesting for the AT1 price action, as we'll know whether the 50 day EMA decides to make that golden cross or not. The MACD also looks like it's losing downward momentum and reversing on a daily scale.
However, it is important to still know that volumes are low. These movements don't have enough weight behind them. I presume that with some news behind us, the volume will come through.
Right now, it's still a little ambiguous (due to volume), however I am still taking an optimistic view. But please do your own research as anything can happen.
AT1 Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
