ATPC Stock Price at All-time Low; Will Buyers Takeover The Momentum?
The chart structure of ATPC stock price displays the strong selling pressure for the last few months and reached a new all-time low of $0.210 on April 17, 2024. In mid-March, the price has tried to sustain over the 20-day EMA but has failed to sustain and witnessed selling pressure.
Recent earnings were distributed by April 01, 2024, with the ending period of December 2023. Recently, the asset price took support on the $2 mark and gained bullish momentum to reach the key moving average.
At press time, the price of ATPC stock is $0.221 which has 8.26% an intraday session. The market cap is $17.02 million and the basic EPS (TTM) is -$0.03. The debt is $437.72K and the cash & equivalents are $4.83 million.
About Agape ATP Corporation
Agape ATP Corporation is a beacon in Malaysia’s health and wellness landscape, offering a quartet of product lines: the ATP Zeta Health Program, ENERGETIQUE, E.A.T.S., and BEAUNIQUE. This enterprise, the brainchild of How Kok Choong, came into being on the first of June, 2016, and has since made Kuala Lumpur its home, from where it dispenses its expertise and innovative health solutions.
ATPC Stock Price in Bearish Trend; Will Buyers Bounce Back?
NASDAQ: ATPC/USD 1-Day Chart By TradingView
On a wider time frame, the ATPC stock price has been in a strong bearish trend and continuously recorded new all-time lows. In the short term, the stock price has triggered a pullback and heading for a new all-time low.
If Agape ATP stock price fails to defend the $0.2 mark then it will record a new all-time low. According to the technical chart, buyers have lost momentum and sellers are in total control.
On the other hand, if the asset price takes support on the $0.2 mark and surpasses the 20-day exponential moving average then it may gain buying momentum. Suppose the price manages to sustain the $0.500 hurdle, buyers may eye for the $1 mark and it may turn into a trend reversal.
Turning to the technical indicators, the ADX is 30 and favours buying momentum. The price is trading below the 100-day exponential moving average which indicates the strong selling pressure.
ATPC Stock Price Technical Analysis Over Weekly Timeframe
NASDAQ: ATPC/USD 1-Week Chart By TradingView
The ATPC stock price is showing a strong bearish trend and showing directional momentum on a weekly time frame. Recently, it has triggered a pullback and planning to decline further. The previous candlestick was a positive candle but the recent candle has engulfed it.
Suppose the price shows price rejection and trading volume increases then the buying momentum can be initiated.
Summary
Agape ATP Corporation’s stock (ATPC) has seen a 77% drop over the last three months, trading below key moving averages. The stock’s all-time low suggests a bearish outlook, but there’s potential for a shift in momentum if it can hold the $0.2 support level. Technical indicators hint at potential buying interest, but investors should remain cautious as the stock’s ability to bounce back is not guaranteed. Due diligence and careful analysis are advised before making any investment decisions.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
