+53.8% in ATN Holdings, Inc. (ATN). What’s Next?
In our Equity Advisor issue last April 11 and again on April 28, we noted that ATN Holdings, Inc. (ATN) would soon reach for Php0.50 given its breakout from a notable bullish reversal in the form of an inverted head and shoulders back then. As you can see from its chart, just 3 weeks have passed since its initial break and the stock has already reached the mentioned goal. In the meantime, though, it seems that the stock may be due for a pull back. You see, a presence of a bearish engulfing candle, bearish divergence between its price and RSI and a sell signal generated by a downward cross in its RSI suggest that ATN may revert back to its support at Php0.35 to Php0.36.
ATN write-up from the Trading Edge Equity Advisor:
April 28, 2016
We are iterating our technical buy rating on ATN Holdings, Inc. (ATN). As you can see from its chart, the stock has broken out from a well-defined inverted head and shoulders pattern. As some of you may know, such event actually marks the end of its previous downtrend. The same event also shifts it to trend in a new uptrend. Anyway, its rise over its previous resistance at Php0.30 should lead it to at least Php0.50.
ATN write-up from the Trading Edge Equity Advisor:
April 11, 2016
ATN Holdings, Inc. (ATN), similarly, has completed a basing formation in the form of an inverted head and shoulders when it successfully closed above its neckline resistance of Php0.30. Its ability to do so may then trigger more demand that may in turn lead it towards Php0.50.
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