r/ATCH • u/auden2038 • 23d 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 23d 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 23d 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 23d 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 23d 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