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Archive
- 4/26/2024 -
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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 -0.27 points, or -0.23%, and closed at 116.93 on Friday, April 26, 2024. Weekly volume was -26% below 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 119.36 on April 1, 2024. ATO gained -18.36 points, or -18.18%, in 25 weeks. The price is now at the 13.24% retracement level.
 Medium-term trend: [See ATO medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 110.46 and reached 119.36 on April 1, 2024. ATO gained -8.90 points, or -8.06%, in 6 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 111.08 and resistance is at 121.63. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ATO weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend 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 April 16, 2024 at 110.97 and reached 118.85 on April 23, 2024. ATO gained -7.88 points, or -7.10%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See ATO daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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.
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