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Advanced TA SearchArchive
- 6/7/2024 -
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Atmos Energy Corp (ATO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Atmos Energy Corp (ATO). During the week, the ATO gave back -1.14 points, or -0.98%, and closed at 114.78 on Friday, June 7, 2024. Weekly volume was 16% above average.
ATO is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ATO long-term trend chart]
A long-term uptrend had started on October 3, 2023 at 101.00 and reached 121.48 on May 9, 2024. ATO gained -20.48 points, or -20.28%, in 31 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (118.78) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See ATO medium-term trend chart]
A medium-term downtrend had started on May 9, 2024 at 121.48 and reached 110.97 on May 29, 2024. ATO lost 10.51 points, or 8.65%, in 2 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (115.29). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ATO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 24, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See ATO short-term trend chart]
A short-term uptrend had started on May 29, 2024 at 110.97 and reached 116.58 on June 3, 2024. ATO gained -5.61 points, or -5.06%, in 5 days. The price is now at the 32.09% retracement level.
Daily Technical Indicators: [See ATO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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