I'm looking for some constructive feedback on ATI. It looks to me like a descending triangle which I'm interpreting to be bearish. However, the volume looks as if it may pickup which, if it does, it may provide a great long entry. I'm wondering if this is a technical descending triangle and at what point would you go long if the trend continued up. I was thinking 63 since it was the last point where the 50 EMA was crossed. Am I on the right track ? Any feedback would be appreciated..
Hmmmm, looks more like a short play to me. I'd wait for confirmation of the breakdown. Maybe if it drops below support of 55-56, then I'd short it. Otherwise, personally, I wouldn't go long unless it broke out above 67 or so on strong +100% volume increases.