- ATUS rose above its 10-month downtrend in July. The zoom chart reveals a very positive ascending triangle pattern, which is formed by an uptrend and a supposed resistance line that will eventually be violated. These are normally very strong patterns. Even after the recent rally, ATUS is still down 70% since April. The weekly shows that the next level of long-term resistance is up near the 16 level or over 40% higher than Monday’s close.
RRG analysis shows that ATUS is in the Improving quadrant headed toward the Leading quadrant. ATUS is one of the TOP 20 stocks in this week’s TPA-RRG report.
Relative Rotation Graphs (RRG) – explanation video
AFG fell below its 17-month uptrend line in July. Even after its recent decline, AFG is still up over 230% since the July lows. Further confirmation of negative technical can be seen in the triple top from April through July. The recent rally puts ASFG back at breakpoint level resistance (zoom chart). AFG is very vulnerable after the recent break as long-term support is all the way back to the 80 level or its breakout in early 2021 (weekly chart)
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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