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ATX Technical Chart: The trend is now slightly higher again

ATX Technical Chart: The trend is now slightly higher again

10/08/2022, 805 characters

From Erste Group Weekly Stock: “ATX is gaining more than 5% on a weekly basis and jumping (at least in the short term) above the 2,800 point mark again, which ultimately cannot be fully sustained.

If one follows the Parablic system, one can already talk about forming a bottom, and the trend is now pointing a little higher again. MACD and momentum are also generating short term buy signals. The DMI indicator, which reacts somewhat later, does not yet see the end of the downtrend, which, however – after the ADX indicator – has clearly lost its strength.

It is now necessary for the Austrian leading index to stabilize above 2,800 points. The next target will be the 50% Fibonacci retracement at 2,851 points. In this area we would like to see ATX next week.”

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