/biz/ - Business & Finance

Athabasca is in a continued downtrend. You can see on the orange swinglines we have a series of lower highs and lower lows. We are embedded on the RSI and can expect this trend to continue. We bounced off the lower bollinger band as expected the other day which acts as a soft resistance and is also where people shorting the stock would have taken profit. The 100 day moving average (green) is overhead resistance. I would expect this stock to continue falling. My target for purchase would be the confluence of supports forming with the blue support line, the lower Bollinger band, and the 200 day moving average. I expect to be fully positioned back in this stock within the next week.

Athabasca downtrend still holding and 100 DMA about to be breached. Note that RSI is starting to dip back down again to undersold. Price target after the breach is 1.36