Not an investment recommendation. This chart was made for personal study and personal use only. If you liked the idea, please like it. If not, write why. In my humble opinion, the price will go up.
Normally you shouldn't trade against the trend but price is now touching the bottom of a down channel
This touch is a good candidate for a bounce
Similar points along the 1,2,3 labels
Possible up bounce
Hello Traders!
AAT has recently broken out of its descending triangle bullishly. Since the 50 SMA just crossed over the 100 SMA, the MACD has crossed over the 9 EMA and the RSI is looking optimistic, we can expect another rally to come quite soon. The buy signal is the price crossing over both the 50 and the 100 SMA and it will rise to the first goal (the 29.33...
Two days ago we gave an analysis that AAT price would drop but it actually failed to cross below it’s bullish channel’s support at the closing time and today it makes a new 52 weeks high. If it could keep the price above it’s previous resistance at today’s closing, probability the price would keep going up.
AAT moved downward after it touched it’s multiple top and it’s now crossing below its bullish channel’s support. Probably a good setup to short the stock or just stay away from it.
