Today we are taking a look at the daily chart of Cosmos (ATOM). After hitting its 2022 low back in late June, price began a slow grind higher before hitting it's head on some resistance.
Possible Uptrend or Cup and Handle in Play...
When looking at this chart I notice two things:
- The first being the short up trend price was in after bottoming out, but also the potential uptrend that may be coming into play of the most recent bottom and the 2022 low.
- The second is the cup pattern we see after price hit its head on the 17.35 area resistance. If price were to just test that area again and push sideways a bit while doing so, then a cup and handle would be in play which tends to lean toward upward price breakouts.
We shall see if any of this plays out, but either way ATOM has shown relative price strength compared to the majority of the market in recent months.
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I've heard someone speaking on the airplane about Cosmos all the way, probably I should have listened better to it. :))
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LMAO. I wish I'd of remembered to DCA into this the past few months. I think my initial buy was near $20 oops.
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I do love Cosmos, Juno took an absolute frucking battering but ATOM is great.
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