ATMOS ENERGY CORP (ATO)

ATO has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 114.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 114.14, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ATO in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

• Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
• A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.