ATI Is Poised for Further Gains

Let's see where the charts are headed and we also have a new price target range.
Stocks quotes in this article: ATI

I have been finding attractive charts of a number of metals and mining names and materials recently. ATI Inc (ATI) is a leading producer of a wide range of military-grade titanium, specialty steels and other metals. Let's check and see where the charts are headed.

In this daily bar chart of ATI, below, I can see that prices have made higher lows the past 12 months. Prices made higher highs in April and August. ATI needs to make a new high for the move up to refresh the uptrend. Prices are above the rising 50-day moving average line and above the rising 200-day line. The trading volume is showing a little more activity in the past two months.

The On-Balance-Volume (OBV) line shows some improvement in the past two months. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for the past month. 

 
In this weekly Japanese candlestick chart of ATI, below, I can see a three-year rally that is still viable. Prices are above the rising 40-week moving average line. Trading volume has been declining but the weekly OBV line has been stable. The MACD oscillator is above the zero line and poised to make an upside crossover and fresh buy signal.
 
 
In this daily Point and Figure chart of ATI, below, I can see a potential upside price target in the $39 area.
 
 
In this weekly Point and Figure chart of ATI, below, a price target in the $43 area is shown.
 
 
 
Bottom line strategy: Traders could probe the long side of ATI at current levels. Risk below $28. The $39-$43 area is my price target for now.
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TAGS: Investing | Stocks | Technical Analysis | Trading | Materials | Industrials

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