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ALTR D1 review: XABCD BEARS // SHORT IT 30%/50%...
The price of Altair Engineering is moving in a clear uptrend-corridor. MACD looks optimistic, indicating no divergence and trend-reversal, but the RSI indicates overbought conditions and the moving averages are still pessimistic. I would go for a short-term long when the price is at its next swing-low inside the corridor or go for a very short-term short right now...
ALTR bounced from its bull channel's support and is now moving upward. If the price could break above its control price area and mid term resistance at $40 area, probably the stock price would continue its move to $44 or even higher.
I have been watching this stock for months, and trading it looks very easy, like picking money of the floor. On the weekly chart there is a clearly defined range.
The daily chart started turning down today after some false breakouts. The trade levels shown on the chart are the exact levels from my trading platform.