350% Upside. Favorable Descending Triangle.It has been in that triangle for almost 2 years now. Tagged the bottom of the triangle multiple times and could break upward out of the triangle. And RFK jr. policies favor this.
ATAI trade ideas
ATAI Life Sciences | ATAI | Long at $1.30ATAI Life Sciences NASDAQ:ATAI , a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, is fast approaching my selected historical simple moving average (SMA). Often, but not always, the closer the price gets to this line, the higher chance there is for a fast upward move. In anticipation of this move, NASDAQ:ATAI is in a personal buy zone at $1.30.
A word of caution: this is a pure technical analysis play and this company is not expected to be profitable for many, many years...
Target #1 = $1.75
Target #2 = $2.50
Target #3 = $2.95
High potential over the coming yearsPositioned to disrupt the medicinal industry with its wide range of products and significant stakes in other biotech companies like Compass. ATAI possess ample funds to quickly become a leader in a market that has not yet fully emerged. High Volatility I wouldn't be surprised to see the stock reach $20 next year, analysts predict $11.
Weekly RSI looks great and primed to run showing strength above 50 with key MA overhead
The daily is getting a little hot pullbacks will offer great opportunities.
ATAI - 2 potential paths to $5After successfully surpassing the previous swing high with considerable volume, attaining a fresh 52-week peak of $2.85, and witnessing the 50-day moving averages intersecting the 150 and 200 SMAs, ATAI appears poised for a reversal from its downtrend.
**Potential Scenarios:**
**Scenario 1: Triangular Consolidation (Orange)**
ATAI may undergo consolidation within a triangular pattern marked by points A to E. This consolidation phase could indicate a period of indecision in the market as buyers and sellers balance their positions. Typically, triangular patterns suggest that volatility is decreasing, leading to an impending breakout. If this pattern unfolds as expected, a breakout is anticipated around mid-August, potentially triggering a significant move in the stock price.
**Scenario 2: Corrective Pattern (Yellow)**
Alternatively, the stock might experience a corrective phase represented by an A-B-C pattern. This corrective pattern could indicate a temporary pullback or retracement within the broader uptrend. Such corrections often serve to alleviate overbought conditions and provide an opportunity for new buyers to enter the market. In this scenario, ATAI is expected to establish a higher low by mid-August, reinforcing the bullish momentum and setting the stage for further upside potential.
**Price Targets:**
Anticipated Fibonacci targets include 1.414 ($4.45) or 1.616 ($5.54) to be achieved by year-end. These Fibonacci extensions are commonly used by traders to identify potential levels of resistance or support based on previous price movements. Additionally, a more ambitious target exceeding $15 within the next few years is also envisaged. This long-term target reflects the potential for ATAI to capitalize on emerging trends and developments within its industry, driving sustained growth and shareholder value over time.
ATAI looking to bottom out
After closely monitoring psychedelic stocks for approximately six months, my attention has been drawn to ATAI. Despite enduring a challenging period over the past couple of years, the stock appears to be signaling a potential turnaround.
Volume Analysis
A notable observation is the diminishing volume during each downturn, coupled with a substantial surge in volume in November of the previous year. This pattern indicates a decisive breakout from the prevailing trend.
RSI Insights
Simultaneously, the Relative Strength Index (RSI) reached its peak at 69. This represents the highest momentum level in the stock's history, signaling increasing strength. This noteworthy event marks the first instance of the weekly RSI surpassing the halfway mark, hinting at the initiation of a potential uptrend. Further supporting this indication is the presence of a bullish RSI divergence.
Anticipated Developments
My focus is straightforward, with two key criteria:
Demand Zone Confirmation ($1.05 - $1.29)
Previous High Breakout ($2.23)
The occurrence of these events could pave the way for significant upside potential in ATAI, as well as the entire psychedelic industry, with target projections reaching into the double figures.
similar to mindmed mush and psychedelics have good opportunity The opportunity is there, again similar to mmed stock. Mush and pyschadelics have a good potential in future. Bullish on this stock. just waiting for the correct technical set up. Might have to wait a few weeks for a play. but seems decent
ataiATAI LIFE SCIENCES. MUSHROOMS CLEARED MY ALCOHOL ADDICTION THIS YEAR, PSYCHEDILICS ARE THE REAL CURE FOR ADDICTION ANXIETY DEPRESSION ETC. This is one of the top companies.
This isn't a trade for me, I plan on holding long term but this is a very nice set up.
ATAI short-term playHello bulls,
This one is a short-term play and can't much be said about it.
After CMPS crushed, price dropped to 12$ and then due to Macro economical panic, crabbed around 11$.
This is good that it's crabbing around 11$ because the next steps are the slow stairs to the 15$.
Volume on last hour of December 3 indicates strong interest in 10.5-11$, meaning any further panic would just keep crabbing the stock.
In my opinion, if the stock doesn't close at 13$ by end of December, sell. Because it will not be a short-term swing anymore.
My average is 12$, stop loss at 10$.
Pros:
-Exposure to ATAI assets: 400M cash, 21% stake in CMPS and it's own proper research and development pipeline
-Lower the price, higher interest to invest by Dealers or keep their assets protected from too much price fluctuation downward.
-Correlation to the Psychedelic sector, specifically CMPS trend.
Cons:
-No Revenue to backup FA, only assets.
-Can't sustain price floor above 11.5$ theses last 3 weeks of bloodbath. Let's hope confidence will be coming back.
-Long term not recommended since the company burns cash per quarter. Unless you are investing in speculation.
Overall, ATAI resisting to the panic better than BABA.
This is not a financial advise and risk should be always taken in count before trading.
Take care!
$ATAI consolidating from wedge breakoutThis is one that I really look forward to. My conviction is fueled by the following:
- Belief in small mid caps outperforming following weeks
- Observation that new IPOs breaking out of downward wedge seem to be high probability plays
- All the short squeeze momo plays have a high chance of rotating into weed/shroom stocks.
- I think it has consolidated enough (tight small movement consolidations)
Now that I have gathered my thoughts, I realised for such level of conviction I am not sized up correctly as opposed to my other lower conviction plays...
ATAI - long psychedelics If youre interessted or believe in psychedelics as medicine, its maybe a good buying oppurtunity for a longshot in ATAI. You could play it with a stop or not - personally I dont have a stop but checking it manually - if the level hold it can be a great longterm oppurtunity - personally I have a small position from a bit lower (about 1% of my portfolio)
MOVE ON ATAI COMING - HIGH RISKATA, Inc. engages in the provision of computer-based testing services. It serves professional licensure and certification tests in various industries, which include IT services, banking, teaching, and insurance. The company was founded by Kevin Xiaofeng Ma and Walter Lin Wang in 1999 and is headquartered in Beijing, China.
SHORT INTEREST
83.41K 07/31/19
P/E Current
-3.13
P/E Ratio (with extraordinary items)
0.38
$ATAI BULLISH MOVE TUESDAY 22% GAIN ON DOWN DAY Very positive move today on a very negative day in the markets, 22% gains is significant in a stock with a history of extreme spikes in price and volume. We will look for continuation in the days to follow.
Company Description
ATA, Inc. engages in the provision of computer-based testing services. It serves professional licensure and certification tests in various industries, which include IT services, banking, teaching, and insurance.
Atai up for swing Swing trade ready to be surf! Will reach 3.87 and than could raise again till 4.50 as Atai did it before. Trade safely with the momentum indicators... Watch the volume. Be concious that those ventures are dangerous in the opening : gapa, gap, gap! Don't get burn wiih you first entry : don't trade all your money ...
ATAI - MORNING PANIC @ 2.39Will be looking for a nice morning panic and bounce nice 1st red day here will be looking to enter around 2.39
ATAI - @ 3.45 MORNING PANIC @ 3.45 Biggest gainer 2nd day in a row I will be watching and waiting for this to have a really good cliff hanger with it up being up so much this is a definite supernova on a tech stock. Though I feel it is extremely overextended, also note that last time it pumped like this it only lasted 2 days and opened below day of high and in my observations closing so strong like this on a very steep so no overnight play here. Rather I will be watching for a panic, no panic no play 10-20% bounce
will only buy the bounce if I see the volume coming in on the 1st -2nd green candle
ATAI - OVERNIGHT HOLD 2.01Would have bought near close at 2.01 nice low of high consolidation and closing nicely off day high
Entry 2.01 looking for a morning spike tomorrow.
NOTE:
This was the biggest % gainer on the day and the year chart is clean breakout above
Clear catalyst on why the % gain
Missed My OpportunitySo I have been practicing this pattern since I spotted it, and so far I am 100 % on this pattern alone. I call it The bat (although it could be called something else by "professionals" LOL). When I see a stock like this, I do not jump in when it is already high. I wait for the dip. The first turnaround is normally a fake out. The second turnaround may offer some real support. Mark that support, and use it as a possible entering point. I normally don't jump in on the first real support. I let it spike and come back down again so I can test the support I marked. If it hits it again, my interest increases. Normally I enter the third time it hits the designated support level, as it could surpass previous resistance. Normally it does, before it falls back down again. Just a little something I picked up a long the way because I want us all to be successful traders. This pattern happens almost everyday, all you have to do is wait. Good luck out there guys.
Preliminary Agreements For Acquisition - Weekly Interval - ATAIHello Successful Traders,
The stock (ATAI) has presented a modest growth in price value throughout the last couple of hours. The overall trend of the equity (stock) appears to be negative (considering since Mid 2011). There has been an immense consolidation between price levels (7.00 - 2.00). Be cautious prior to entering such a volatile market.
Resistance Level 2 - (13.35 - 13.65) 30 cent interval
Resistance Level 1 - (7.20 - 7.45) 25 cent interval
Key Price Zone - (3.20 - 3.45) 25 cent interval
Support Level 1 - (0.70 - 0.95) 25 cent interval
Furthermore, the stock has none-the-less broken-through previous consolidation levels. (Can Be a False Breakout).
Not Investment Advice. For Educational and Analytical Purposes Only. (Be Aware and Stick To Your Trading Plan)***
-LionGate
