Good scoop upReasoning
- Consolidation seems done
- Correction is not overextended
- Good Relative Strength
- Great earnings
- RSI tested bullish range multiple times
- Multiple Bullish Days
- Always try to use 2 timeframes
My Would Be Trade Plan
- Risk about 1.5ATR and aim to ride up to 4.5ATR (1:3)
- Raise stop once Trade moves 2ATR in your direction
- Add on new highs after a pullback. (Then raise stop to keep original risk and also do not modify the target price)
Main Sources of My Knowledge
Mark Minervini
Constance Brown
William O'neil
Speakers on Trader Lion Youtube
Adam Khoo
My Indicators
14 Period RSI.
9SMA and 45EMA Moving Averages added
Composite by Constance Brown
This is for catching failures in the RSI.
The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
Composite Settings
Author : Constance Brown (Connie Brown)
RSI Length : 14
RSI Momentum Length : 9
SMA Length : 3
Fast Simple Moving Average : 13
Slow Exponential Moving Average : 33
ATI trade ideas
ATI - Trend pullback ATI is part of the XME sector and has stronger price action than the sector.
Perhaps some doubletop price action here after testing the earnings spike. However, with XME setting up to break higher, ATI looks to benefit with already strong price action.
G/G trend with RAF at extremes. 13/21 propulsion dots indicate strength trend.
Vscore support at this price level.
Look to establish aggressive position size trade in between 13 and 21 prop dots.
Buy @ 39.30
Profit @ 40.90
25% stop Loss
Option interest in thin for the 21Apr23 39 and 40 calls.
Look to buy 40Calls on pullback.
ATI Long Swing on Relative StrengthThis trade is great because you can see multiple levels of resistance that it can reach up to. When SPY recovers if this stock can maintain heavy volume on compression you could see an easy $2 winner here at least. The exit will likely be unclear as it rebounds off resistance once or twice and then drifts into a new trend.
Entry: $20.41
Exit on loss of relative strength or trend break.
Keep it in your watchlist..!Potential gain:25%
Reward/Risk:4
Timeframe: 1-3 months
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
You’re likes and comments encourage me to continue this.
Stay tuned great live stream and quality content videos coming soon..!
ATI [NYSE] Upgrade by The Benchmark Company to $21NYSE:ATI
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide.
The company operates in two segments, High-Performance Materials & Components, and Advanced Alloys & Solutions.
The company produces high-performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts to the aerospace and defense, medical, oil and gas, and electrical energy markets. It also provides stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys in various product forms, including plate, sheet, engineered strip, and precision rolled strip products to various markets, such as chemical and hydrocarbon processing, automotive, aerospace and defense, food processing equipment and appliances, construction and mining, electronics, communication equipment, and computers. Allegheny Technologies Incorporated was founded in 1960 and is based in Pittsburgh, Pennsylvania.
Target Price 21$, it's mean +27% from 16.91$