ATA has broken above the downtrend on the 15-minute chart with strong bullish momentum. After a brief dip to grab liquidity around the breakout area and horizontal support level, we can expect to see some pullback to the upside.
Why Traders Should Pay Attention:
Understanding key breakouts and support levels is crucial for making informed trading decisions. The recent bullish momentum and successful retest of the support level indicate a potential upward move, making this a significant opportunity for traders.
Team Recommendation:
Based on the current analysis, we recommend considering long positions as long as ATA trades above the horizontal support. This could present a favorable entry point for traders looking to capitalize on the potential upward move. Set stop-loss orders below the support level to mitigate risks.
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