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Atmos Energy Corp (ATO) |
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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 dropped -2.86 points, or -2.45%, and closed at 113.70 on Friday, May 26, 2023. It was the worst weekly loss since March 24, 2023. Weekly volume was -21% 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 122.96 on April 20, 2022. ATO gained -37.16 points, or -43.31%, in 29 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 107.15 and resistance is at 120.76. 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 long-term trend.
 Medium-term trend: [See ATO medium-term trend chart]
A medium-term uptrend had started on March 23, 2023 at 105.78 and reached 119.72 on May 10, 2023. ATO gained -13.94 points, or -13.18%, in 6 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (122.96) is broken. A broken support is considered to be a long-term bearish signal. 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 support 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 April 28, 2023. 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 May 10, 2023 at 119.72 and reached 112.62 on May 26, 2023. ATO lost 7.10 points, or 5.93%, in 16 days. The price is now at the 15.21% retracement level.
Daily Technical Indicators: [See ATO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 16, 2023. This is an indication that the short-term trend is down.
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 price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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