SIACharts Logo

Commentary >

AcuityADS Holdings Inc. - (AT.TO) - April 6, 2022

Internet advertising agency AcuityADS Holdings (AT.TO) spent nearly all of the last year in the doldrums, stuck deep in the red zone of the SIA S&P/TSX Composite Index Report. In the last couple of weeks, it has caught fire and rocketed up toward the top of the Yellow Neutral Zone. Yesterday it finished in 62nd place, 2 spots outside of the green zone after jumping 13 places on the day and 158 positions in the last month.

A new recovery trend appears to be getting underway in AcuityADS (AT.TO) shares. AT.TO spent 2021 under distribution but appears to have bottomed out last month in what looks like a final washout below $3.00 after a couple of months of consolidation. In recent weeks, the shares have come under renewed accumulation, first completing a bullish Reverse Head and Shoulders base (circled) and then a bullish Ascending Triangle with a breakout over $4.00.

Initial upside resistance appears in the $5.00 to $5.25 zone where a round number, a measured move and a long-term downtrend line all converge. Initial uptrend support appears near $3.80.

AcuityADS Holdings (AT.TO) spent the last year under distribution but has started to turn back upward. In recent weeks, the shares have called off a previous double bottom and completed a series of bullish patterns, including a Double Top and two Spread Double Tops.

Previous column highs, which are near horizontal counts, suggest initial upside resistance tests appear possible near $4.62 or $5.10, followed by a long-term downtrend line near $5.75. Initial support appears near $3.79 based on a 3-box reversal.

With a bullish SMAX score of 9, AT.TO is exhibiting strength against the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Related Posts

Keep up to date on the latest financial market news.

Receive a daily newsletter with stock highlights, ETF rankings, weekly market focus and others.