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Uptrend ExhaustionArchive
- 12/13/2024 -
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Atmos Energy Corp (ATO) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Atmos Energy Corp (ATO). During the week, the ATO gave back -1.36 points, or -0.96%, and closed at 140.60 on Friday, December 13, 2024. Weekly volume was -25% below average.
 Long-term trend: [See ATO long-term trend chart]
A long-term uptrend had started on September 28, 2021 at 85.80 and reached 152.30 on November 27, 2024. ATO gained -66.50 points, or -77.51%, in 165 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (111.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See ATO medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 101.00 and reached 152.30 on November 27, 2024. ATO gained -51.30 points, or -50.79%, in 60 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (121.05) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ATO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See ATO short-term trend chart]
A short-term downtrend had started on November 27, 2024 at 152.30 and reached 139.70 on December 11, 2024. ATO lost 12.60 points, or 8.27%, in 14 days. The price is now at the 7.14% retracement level.
 Daily Technical Indicators: [See ATO daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since December 2, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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