ATI Physical Therapy, Inc. Stock Forecast
ATI Physical Therapy, Inc. stock price up more than 6.77% on Tuesday
(Updated on Jul 02, 2024)
The ATI Physical Therapy, Inc. stock price gained 6.77% on the last trading day (Tuesday, 2nd Jul 2024), rising from $4.58 to $4.89. During the last trading day the stock fluctuated 8.19% from a day low at $4.52 to a day high of $4.89. The price has risen in 5 of the last 10 days and is up by 10.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $12.23 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ATI Physical Therapy, Inc. stock with a 90% probability to be traded between $4.03 and $5.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ATIP Signals & Forecast
The ATI Physical Therapy, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.68 and $4.67. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). ATI Physical Therapy, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -3.74%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Friday, June 21, 2024 and based on theory for this formation the price should fall by -27.84% to $3.53 within 26 trading days since signal was issued (Tuesday, July 30, 2024).
Support, Risk & Stop-loss for ATI Physical Therapy, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.41 and $4.13. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ATI Physical Therapy, Inc. finds support just below today's level at $4.41. If this is broken, then the next support from accumulated volume will be at $4.13 and $4.10.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.370 between high and low, or 8.19%. For the last week, the stock has had daily average volatility of 4.55%.
Our recommended stop-loss: $4.69 (-4.10%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (ATIP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect ATI Physical Therapy, Inc. to open at $4.77, and during the day (based on 14 day Average True Range), to move between $4.59 and $5.19, which gives a possible trading interval of +/-$0.297 (+/-6.08%) up or down from last closing price. If ATI Physical Therapy, Inc. takes out the full calculated possible swing range there will be an estimated 12.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.90 (0.20%) than the support at $4.41 (9.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ATI Physical Therapy, Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ATI Physical Therapy, Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.613 Buy Candidate Upgraded
Predicted Opening Price for ATI Physical Therapy, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $4.77 ( 2.52%) | $4.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATIP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.14 | 5.04% |
| R2 | 5.00 | 2.15% |
| R1 | 4.91 | 0.368% |
| Price | 4.89 | |
| S1 | 4.63 | -5.41% |
| S2 | 4.54 | -7.20% |
| S3 | 4.40 | -10.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.00 | 2.25% |
| R2 | 4.95 | 1.23% |
| R1 | 4.90 | 0.204% |
| Price | 4.89 | |
| S1 | 4.41 | -9.82% |
| S2 | 4.13 | -15.54% |
| S3 | 4.10 | -16.16% |
FAQ
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