Yesterday, although Atlantis Internet Group Corp (PINK:ATIG) issued a press release to announce one of its latest agreement, the company’s share value dropped sharply down. On a more than 19 million shares, ATIG fell down 31% and closed the session at $0.01.
According to the announcement, which was submitted on Marketwire cia Comtex, ATIG had entered into an agreement with Entwine Tech. The latter would supply its Live Dealer software to ATIG’s tribal gaming network.
Apparently, the news was not of much significance to investors who let the trade be dominated by sellers. As a result, ATIG dropped down to its support level. In fact, there is something else notable on the stock chart. While the stock has been capable to maintain a firm support level so far, it has been registering lower highs, which is slowly drawing a downward triangle. [BANNER]
At the same time, a couple of weeks ago ATIG dropped below the 50-MA, while the MACD indicator has been in a steady downtrend for a long while.
So it is apparent, ATIG is at a critical technical threshold and now that the stock is at the support level it will be very important what will happen in the next couple of trading sessions as then the short-term future of the stock will be more clear.
