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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Atmos Energy Corp (ATO) Technical Analysis
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| | It was the negative week for the Atmos Energy Corp (ATO). During the week, the ATO dropped -1.27 points, or -1.10%, and closed at 114.55 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 37% above average. ATO is a member of Utilities Sector. Utilities is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See ATO long-term trend chart] A long-term uptrend had started on September 28, 2021 at 85.80 and reached 125.28 on July 26, 2023. ATO gained -39.48 points, or -46.01%, in 95 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (113.83) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend. Medium-term trend: [See ATO medium-term trend chart] A medium-term downtrend had started on July 26, 2023 at 125.28 and reached 101.00 on October 3, 2023. ATO lost 24.28 points, or 19.38%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 112.75 and resistance is at 116.30. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern 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 March 1, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help. Short-term trend: [See ATO short-term trend chart] A short-term uptrend had started on February 13, 2024 at 110.46 and reached 117.24 on March 13, 2024. ATO gained -6.78 points, or -6.14%, in 29 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 112.26 and resistance is at 117.29. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend. Daily Technical Indicators: [See ATO daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help. The daily MACD line is above its signal line since March 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band. During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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