Originally Posted by
Baa_Baa
Speaking to the TA, 100MA leaves about $1.70 on the table if it recovered to there today, the 100MA is declining though. ATM has found three supports in confluence, the horizontal support from July 2019 high, the 200MA, and the 0.382 FIB retrace. The last 5 days ATM probed below the 200MA and closed on or above it. RSI has also turned up as has the MACD crossing up and the histogram crossing up through zero.
Despite ATM having previously gone well below the 200MA, at present notwithstanding some external shock, it looks to have price support which could turn into another up leg. This is not advice, just an observation for anyone who takes TA into account and see's the downside risk as less than the upside opportunity.