ATLX Atlas Lithium Correction To Continue

16 Mei 2023

By the looks of it ATLX still has some more room to correct and consolidate. The hype was really intense during the last run up. Lots of bag holders still waiting to get out after buying the top between 330S and 40s. The MACD is pointed straight down on the weekly and still has lots more room to go before a possible curl up. The RSI is also pointed straight down and the Stoch RSI is pointed straight down and these are all on the weekly. Also ATLX has formed a megaphone top pattern and in my opinion its going to correct all the way down to the bottom of the megaphone at around $6 as I predicted in my last chart update. If the Megaphone breaks down below the bottom line then ATLX could head to $4 and then begin its possible reversal up. Still lots of hype in this stock so I am assuming that the correction is not over. If the Megaphone pattern breaks to the upside and breaks above $45 its previous high then this stock is going to go straight to $80 and possibly $175. I dont see that as being likely from the chart and the company fundamentals aren't very solid and possible shady business practices from recent reports that I have read. This is not trading or financial advice this is just my opinion. Thank you