ATADF Crosses Critical Technical Indicator
In the case of Atac Resources Ltd., the RSI reading has hit 27.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 44.5, the RSI of Spot Gold is at 30.8, and the RSI of Spot Silver is presently 31.7.
A bullish investor could look at ATADF's 27.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), ATADF's low point in its 52 week range is $0.89 per share, with $3.38 as the 52 week high point — that compares with a last trade of $0.927. Atac Resources Ltd. shares are currently trading off about 4.3% on the day.