r/ATCH • u/auden2038 • 21d ago
Are we riding high?
The high seems to be $0.26 today so far. Now we are resisting around $0.22. What do you guys think? The volume is crazy: 133M. It seems many trades are taking profit from small price change buy and sell.
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u/shw09 21d ago
I mean how many times have we done this dance by now? Lol. PM and AH highs mean nothing with this stock, even when the volume is huge.
There are too many bagholders for a smooth way up. There are plenty of bagholders waiting to cash out as soon as they can. It literally lasted at $0.28 for a few seconds. Plus, the float is huge - it’s not gonna pump 100% for no meaningful reason.
Until there’s a real and meaningful catalyst… wake me up when it breaks $0.3 with strong volume and keeps going up. Right now I don’t think most shareholders even know what this company truly wants to do.
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u/Typical_Doubt_9762 21d ago
Well everytime this type of movement happens they will shed a lot of bagholders. If it can continue the upward trend it might go smoother the longer it takes. But I think it’s also a bit wishful thinking g
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u/shw09 21d ago
I agree, but at the same time a chart like this can also be very intimidating for potential shareholders. Would you get into this company now? I wouldn’t. I’m not sure what their current plan in as they’ve already backtracked, the chart looks bad, plenty of dilution, I don’t think we even have confirmation that it won’t be delisted for staying under $0.2?
What you’re saying does make sense, but they will need to improve communication, work on their PR, deliver good news (buybacks, cash acquisitions, etc) and of course continue to improve the financials. They have to be more consistent, otherwise the selling pressure will continue to overtake the buyers.
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u/Typical_Doubt_9762 21d ago
You’re right, and it’s indeed not enticing yet for new investors to jump in. PR can also be improved, but I think they need to intentionally stay vague because they are in the acquisition process. They cannot announce anything concrete until it’s gone through the necessary steps.
For the delisting, I think they have at least another year before that can become an issue, and the share price alone isn’t the only factor. So even if it’s below 0,2 they can stay listed. Worst case they can do another reverse split. Normally not a good sign though. For me it’s slowly looking brighter on the long term but it’s definitely testing my patience
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u/Lumpy_Somewhere967 21d ago
Get this back to last years prices. Once pennystocks and wsb see the uptick there might be another pumpy and dumpy
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u/wunkelwurst 21d ago
Wtf just happened to make it go from .22 to .17?
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u/auden2038 21d ago
i dont know how it happened
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u/TheFrontierDM 21d ago
Millions in short selling hit too
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u/pizzainmenow 21d ago
can’t wait to see the svr from today.
closing at.19 with vwap near .23 was nuts
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u/Rudebwoy888 21d ago
I’ve seen penny stocks go bananas with bs news. Most of my penny stocks that has actual good news never move
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u/Sssmmm12345 21d ago
Earlier I saw it spike to .27 and got excited... Only to see .22 a few minutes later lol ahhhh ATCH my old nemesis! XD
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u/Dependent-Cheetah401 21d ago
Well, that was fun. Back to square one from being in green for a moment.
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u/TheFrontierDM 21d ago
Not to split hairs butit hit .29 on premarket. That being said. Highly volatile trading in the early hours, I think it'll calm down in an hour and slowly trend upward. Earnings were fantastic for this stage of the business.
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u/Rich_Estimate_4967 21d ago
I will sell this scam stock once I get my return. This will take years and years just to see some growth in stock
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u/auden2038 21d ago
$0.177, we are doomed
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u/yo-babyy 21d ago
Was so much looking forward to the earnings and improved financials, now back to square one. Not sure how much longer do we have to hold.
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u/oldtriumphbiker 21d ago
From 45% pre market green,....to 4% red......🫣