ATAI has been consolidating sideways on the daily chart for the last 5 days, in a confined channel on the 4hr chart. The channel levels are denoted by yellow dotted lines. This consolidation remains constructive above the last weekly resistance at 2.64, denoted by the solid white line. There is a LOT of volume being traded here (check it out yourself using Volume Profile) which can potentially be a bearish P-shaped volume profile, so bulls want to see a strong push upwards towards $3.00 sooner rather than later. Still, the consolidation remains constructive at this point in time while the market digests the giant gap up and breakout on the back of readout July 1st.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.