Friday, April 18, 2008

AT It Again?

Atlas Consolidated Mining. The stock has caught my attention 2 days ago when it surge from a low of P10.25 the previous day and hit a day high of P11.50 before settling o P11.00. Today, it's been steady at P11.25 despite a down market. Upon reviewing my chart today, this is what I see. Could this be a double bottom formation in the making? This formation is confirmed once it breaks the neckline at P11.75 - P12.00. However, it still needs to break that resistance line as shown by the red diagonal line. MACD line is sloping upwards and is now near the zero line. Volume for this year has been steady though not as high as last year's. Let's see if it can take out that resistance. Attack upon breakout!

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