ATOM Trade setup : Price broke
briefly above $9.50 but was rejected and pulled back to $7.50 support
area, which could be an attractive swing trade entry with +20% upside
potential back to $9.50. Stop Loss at $6.80.
Pattern:
Pullback in Uptrend. Price remains in an Uptrend but has pulled back,
which could present a 'buying dip' opportunity. Traders should look for
the nearest support level where price could stabilize and resume its
Uptrend. This support level could be a level where price bounced off of
in the past, or a level that was previously resistance.
Trend: Short-term trend is Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $7.50, then $6.30. Nearest Resistance Zone is $9.50, then $12.00.
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