Above chart is an example of a chart which 90% resemble to the Atmel Corporation chart during the consolidation period as per below. The chart above as per the highlighted boxes show the indications of the continual upward trend for this stock.
Click on the above image to enlarge
Yes, the above heading is correct, I promise all my reader here that I will shut down this blog which I have give in my 100% effort to help my fellow visitors here to make good money if I am wrong about my investment in Atmel. I am currently heavy invested in Atmel and I am down by around 4%.
If Atmel touches my stop loss and also broke the uptrend range line at $15.00 or if I lost more than 10%, then I will shut down this blog.
The reason I am doing this is because I would like to maintain a good reputation and also the accuracy of my prediction.
I am confidence that Atmel will continue its upward trend because:
1) the upward range line is not broken
2) the reducing volume indicates that the selling is over or fully absorbed by the buyer
3) the recent upward surge with a big gap and big volume is a good sign that powerful buying force is behind the upward move
4) the MACD indicator shows that the consolidation is over and now it is ready to resume its upward trend
5) the increasing quarterly earning that continue to beat analyst estimates for the 2 consecutive quarters.
6) my sixth sense