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Tech. Analyst Says Advance Likely to Accelerate With This Tech Co.

Source: Clive Maund

 

March 29, 2023 (Investorideas.com Newswire) Technical analyst Clive Maund takes a look at ATI Airtest Technologies Inc.'s 3-year and 1-year charts to tell you his view on whether you should buy stock of this company.

There was a terrible hissing sound as ATI AirTest Technologies Inc. (AAT:TSX.V; AATGF:OTC) stock subsided from a peak at CA$0.18 almost two years ago until it was flat to the ground late last year, a drop that definitely left investors in the stock feeling deflated but the good news is that the stock is being pumped again with good reason so we should soon see considerably higher prices again.

We can see the devastating bear market to advantage on the latest 3-year chart and how it resulted in the stock becoming almost worthless by last November, but it is now evident, especially on the shorter-term 1-year chart, that a "Cup" base formed between late September and the start of this month with the strong volume on the ascent to form the right side of the Cup, which drove the Accumulation line strongly higher, being bullish

Over the past several weeks, it has paused to consolidate, which has allowed the overbought condition that had developed to unwind and time for the rising 50-day moving average to close the gap with the price, which action may be regarded as forming a "Handle" to complement the Cup, resulting in a classic "Cup & Handle" base, said with an awareness that this Handle may take a little more time to build out as the moving averages converge.

The company's rapidly improving fundamentals, despite the awful overall economic situation, certainly suggest that the stock price will continue to appreciate and probably that it will accelerate to the upside. Fundamental reasons for it to do so are set out in the article Why Three Newsletter Writers Like This Energy Saving Strategy Company and the big growth potential for the company is made clear by the article AirTest, Technology Saves Electricity.

Whilst the number of shares in issue is on the high side at 222 million, it should be noted that half of these are owned by management and insiders, and in any event, the current low price of the shares reflects this.

ATI Airtest is therefore regarded as an attractive speculative Buy at these levels for further appreciation and potentially big percentage gains from the current low price. Note that it barely trades on the US OTC market, where limit orders should always be employed, although volumes should improve with the price.

ATI Airtest's website.

ATI Airtest Technologies Inc. closed at CA$0.03, $0.014 on March 24, 2023.

Originally published on clivemaund.com on March 26, 2023, at 3:30 pm EDT.

CliveMaund.com Disclosures

The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.

Disclosures:

1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: ATI AirTest Technologies Inc. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of ATI AirTest Technologies Inc., a company mentioned in this article.

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