Technical Analysis of All State Properties Holdings Inc.
We have come a long way since October 13th when our Sunny Money Family team first caught wind of ATPT and began accumulating it. To begin, we must talk price channels. Where have shares been accumulated and where have shares been distributed? Can ATPT keep this up from a technical aspect –and technically what can we expect in the near future? Hopefully, when we really dig into the technical factors surrounding ATPT we can make the answers to everyone’s questions a little clearer.
*Remember as always, this is a technical analysis breakdown. Technicals are based off pure probabilities and never 100% dictate the future.
How many shares were exchanged in .000’s?
Let’s look at the first 3 days of this run on ATPT. They are very important and critical to the future of this run for many reasons. Have these shares been appropriately churned out? Has a higher base been set? Do we have to worry about an impending dump? Let’s take a closer look.
Within these 3 days we are going to guesstimate that approximately 700 million shares were exchanged in the .0001-.0009 range. On every huge runner I have been on and seen, it is always important for this trip zero range to be completely encompassed. What I mean by this is that I like to see, at the very least, the same amount of shares traded in .000’s to be traded in the .001-.005 with the .005 pushing the edge of that spectrum. To see a very healthy transition of hands the .001-.003 level is preferable as creating a base in the .004-.006 range and will become much more probable if .001-.003 has a healthy exchanging of shares.
So Let’s Take A Look:
Now what does this show us? This, everyone, shows us one of the main reasons –from a technical stand– that ATPT is running and the true strength that is behind it. 700 million shares were re-exchanged quickly in the .0009 – .0025 range in the second box. This shows a clear encompassment of shares. This is how stair steps are built and supports are created. It all comes down to price channels and the creation of higher bases. ATPT clearly shows a long-term trend building by quick and proper exchanging of shares. We already have re-exchanged another 200 million in the .0018 – .003 range. This is how runs continue and how this creates a possible .004 – .006 level being built. It will be interesting to watch in the days to come.
Onto Other Key Factors…
In trading, all technical aspects should at least be in the back of your mind. Every trader has their own tools, tricks, indicators etc that they prefer, so here are a couple that are important to me and ATPT.
This is a key line to see on a steady uptrend. This means people are accumulating shares more than they are distributing. On every huge long-term runner you will see a steady increase here.
The PSAR is an indicator that I use in conjunction with the ADX line –both of which measure trend. The strength of a trend is indicated by the ADX line. It is important to continually see those dots moving upwards and not check above the candles.
This is another indicator that helps not only determine trend but also supports and resistances for the chart. It will be key that we continue to see ATPT stay above this cloud support.
OBV/On Balance Volume:
This is a key indicator that I have found to be important for the continuation of a stock uptrend. With an increased uptrend we need steady volume. For another increase in price we typically see another pop on the OBV indicator –which we are beginning to see at the end here.
All of these indicators represent ATPT and the bullish technical aspects that are driving this stock. As usual, I pressed the importance of understanding price channels. I see so many traders new and veteran get so caught up in indicators like RSI, Williams, higher highs/higher lows and ignore price channels. Now are all those important? Yes, of course, but many traders don’t realize its price channels that dictate a lot of those indicators. You ever wonder why a stock sometimes keeps running when RSI is maxed? From a technical standpoint the proper exchange of shares within price channels is many times the reason. Now, ATPT has very bullish indicators to keep going and I, personally, think it will because I’m chart guy. However, always remember: charts are only probabilities. It’s kind of like card counting in blackjack. You know your probability is higher than normal to get a blackjack based off cards you have seen. That is how I explain charts to my students –they give you a better chance of being correct and, of course, being profitable –but they are never foolproof. Aspects like news being released outweighs charts. A random guy who wants to buy a sports car dumps 100 million shares outweighs charts –there are many reasons. When looking at the stock ATPT the Sunny Money Family gives it a thumbs up from a technical standpoint. Let’s see what the coming days have in store and see if we can begin to build a .004-.006 base!
Technical Analysis by Alex S; Owner/Founder
You can follow him on Twitter @SUNNYLAND24
Compiled/Proofread by Noëlle H; CTO/Site Administrator
You can follow her on Twitter @subliMINXal
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