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Dont loose hope on ATM ...it has a outright chance of surprising u if u get lucky ...but prudence says Balance is right about its immediate prospects . Overall if u have some faith in the company management then it can be a good turnaround story in 1-2 years time and can end up doubling in SP from here a la FBU example .
Many sold FBU in disgust ...but some held on ...believers ...they got the rewards too .
But logic says if u have 3-9 months horizon with no appetite for paper capital loss then ATM is in firm downtrend ...its 400 MA is 13.52 ...its less then half of that ...which is extremes of bad news .
Many see that opportunity ....short term thinkers avoid such stocks
People really should learn some basics about technical analysis. A breakdown through the 200 day moving average occurred at just on $18. Basic TA would have got people out at about 3 time's the current price and kept them out and avoided what for some people has been a life changing loss.
Getting in and out when it breaks up or down through the 200 day support line, (AKA following long term price momentum) has served investors extremely well with ATM over many many years.
This strategy would have locked in the lions share of the capital gains over the years and its well worth noting this valuable TA tool currently says to STAY OUT of investing in this company and do not even consider getting back in until a new clear uptrend is well and truly formed, (whenever that might be but extremely unlikely to be anytime in the near future).
I won't touch this with a barge pole until such time, (if this ever occurs), as there's a clear break up through the 200 day moving average.
Come on Hoop, give us some TA prospect.
Unfortunately for people like myself with life changing losses its just not that simple as getting out at some random moving average when a stock has been your lifestyle for 7 yrs prior to that, to unpack my story in full would fill multiple pages on this thread and even then I doubt many would understand, my chain of events started when Covid arrived and long before A2 had its fall from grace, A2 become a part of that chain later on.
I got out of Xero at $22 after averaging down a $40 holding, I had traded it prior to that and overall made from it. Got out because I couldn't see it returning to it's previous highs at the time, of course that was wrong in hindsight plus it wasn't a high conviction stock for me unlike A2.
I am not a big fan of TA alone ...but with understanding of a stock and its business it works well mostly . I was told FPH is in big downtrend when it broke its 200 MA many times ....but its not ...Its better to work with 400 SMA and 400 EMA then just 200 SMA and 100 SMA ...also only as a guide not as tell all . Need understand where the business is and its future prospects ie Fundamentals also . FPH had head and shoulders pattern at $ 27 ...shown to me on this forum ...it got negated as its fundamentally a strong stock
So need judge ATM on its business merits combined with TA help