ATN Holdings, Inc. has announced a 100% stock dividend although its Ex-Dividend Date is yet to be announced. ATN released its annual financial report for the fiscal year ended March 31, 2018. However, I’d like to focus on technical analysis in this article. If you’d like my fundamental analysis on this stock, you can post your request in the Private Clients Forum for our Top Stock Picks clients.
ATN returned to its short-term and long-term bullish stance last July 12, 2018. That was the day when its market price closed above the short-term and long-term simple moving averages. That was also the day when the shorter-term SMAs started to hover the long-term SMAs.
ATN registered its all-time high today at 0.99.
I’ve used Fibonacci in this chart so I’ll set ATN’s major support on the 61.8% Fibonacci retracement which is at 0.75. Its major resistance is at 1.20, which is in confluence with the 61.8% Fibonacci extension.
Why am I using 61.8% of Fibonacci? It’s the golden ratio. You can google about it to learn more about “Fibonacci” and its “golden ratio.”
MACD confirms ATN’s bullish stance. If you’re like me who checks stocks with a market price that is above the 10SMA and a MACD that is above the signal line, I’m sure you already entered a new position on ATN last July 2, 2018.
Do you use MACD and the 10SMA to identify buy signals? If you don’t, at least, now you know one of the “indicator combos” I’m using to spot buy signals.
RSI and Stochastic on the daily show that ATN is inside the overbought zone. That is it if you’ll rely on the classical interpretation of both indicators’ values. I got the same impression when I pulled up RSI and Stochastic on the weekly and monthly.
Volume
As of July 31, 2018, at 03:30PM, the volume of ATN is 58.12% of the previous trading day.
This stock’s latest volume is already above its 30-day volume average.
Remember the correlation between price and volume.
- bullish price + high volume = high sustainability (price)
- bullish price + low volume = low sustainability (price)
- bearish price + high volume = high sustainability (price)
- bearish price + low volume = low sustainability (price)
Top 10 Players’ Sentiment MTD
Trading participants of ATN with a 100% Buying and Selling Activity from Jul-02-2018 to Jul-31-2018 at 03:30PM:
- 7 out of 93 participants or 7.53% of all participants registered a 100% BUYING activity
- 6 out of 93 participants or 6.45% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 0.7927
- Top 10 Players’ Selling Average: 0.7970
The psychological average price of the top 10 players from Jul-02-2018 to Jul-31-2018 is from 0.7927 to 0.7970.
Top 10 Players’ Sentiment WTD
Trading participants of ATN with a 100% Buying and Selling Activity as of Jul-31-2018 at 03:30PM:
- 17 out of 66 participants or 25.76% of all participants registered a 100% BUYING activity
- 15 out of 66 participants or 22.73% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 0.9531
- Top 10 Players’ Selling Average: 0.9560
The psychological average price of the top 10 players as of Jul-31-2018 is from 0.9531 to 0.9560.
Risk Level
ATN has a MODERATE RISK level due to its risk percentage of 58.82%.
Price-Volume Distribution
There’s a high probability that ATN will continue to actively trade between 0.94 and 0.97 by the next trading day. This is the range that got the biggest volume and the highest number of trades based on my proprietary Price-Volume Distribution chart.
My Recommendation
I’m sure you’d like to ask me whether you should sell now, buy more, or hold and sell later.
My answer will depend on where you’re at.
If you don’t have ATN yet, you’re a newbie, and you can’t generate a data-driven analysis that is as comprehensive as what I’ve written, you’re better off not entering a new position on ATN at this stage.
If you don’t have ATN yet but you can interpret indicators and synthesize on your own, you enter a new position if you understand that ATN is riskier today than it was before July 2, 2018 and if you know how to set up a trailing stop loss. If you don’t know what a trailing stop loss is, postpone your plan to trade ATN for now. Study what a trailing stop loss is first.
If you already have ATN and you have paper gains, use your trailing stop-loss as your selling price. A trailing stop-loss preserves your capital, protects your gains, and prevents intolerable risks. If you don’t know what a trailing stop-loss is, read this. You’ll learn how to set up a trailing stop-loss and why you should.
Okay, I can’t cover all scenarios in this free analysis.
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