Good Day for ATH ATH stock is up nicely today. However, if you look at the charts, the Bollinger bands and the RSI both indicated that this stock was oversold. From a technical perspective, this is a bounceback to where investors think the stock price should be.
The 20, 50 and 200 day moving averages are still trending downward and will for a while yet. What is even worse is that the 50 day MA crossed below the 200 day MA on November 15th, which is known as the death cross. The 20 day MA is around $10.75, 50 day MA is around $11.25 and the the 200 day MA is just under $12.
I think ATH will hit some resistance from this point going forward unless there is some news on the JV front that can be confirmed by investors. As I noted off the top, I think that this was a technical bounceback from oversold conditions, nothing more at this point.
Steam