ATER has been a ticker in play ever since the 4th of April when it pulled a 1st Green day and has held key levels ever since then. Today's play resembles very much to the run it made a week ago after holding key levels and squeezing its way to new highs.
Psychology behind players:
1. Shorts - Shorts holding from the first green day highs expecting way lower prices. Day 2's (yesterday) action towards EOD prolly gave them more confidence to hold their positions for longer.
2. Longs lost an important level 4.15-4.20 on day 2 towards EOD but play was clean nonetheless and had not retrace more than 50% off the highs from the initial run = still bullish and even more so when on day 3 consolidated all thru morning above the lost level on the prior day.
My guide for entries were holding of VWAP level and soaking price action above and below 4-15-4-20 level. And when it was breaking to new HOD added a small piece.
Psychology behind players:
1. Shorts - Shorts holding from the first green day highs expecting way lower prices. Day 2's (yesterday) action towards EOD prolly gave them more confidence to hold their positions for longer.
2. Longs lost an important level 4.15-4.20 on day 2 towards EOD but play was clean nonetheless and had not retrace more than 50% off the highs from the initial run = still bullish and even more so when on day 3 consolidated all thru morning above the lost level on the prior day.
My guide for entries were holding of VWAP level and soaking price action above and below 4-15-4-20 level. And when it was breaking to new HOD added a small piece.