Only if it breaks through 3.35ish. Otherwise the bulls will gore anything in its way. As this tightens it could get really interesting soon. I think most on this board understand this. Not stating anything other than the obvious. In the short term this is probably an 8 - 9 on the risk/reward - risk/penalty scale. But for the long term its a no brainer on the upside. The extraneous issues are adding to the uncertainty around this stock. But, if it makes it through it really says something for the underlying strength of ATRS.
I am long ATRS and nervous about the descending triangle. Yes, the breakout will happen as the edges are tightening. 64% of the time descending triangles break to the downside.
Having said that this might be a setup to entice shorts further as they woould automatically think that it would break to the downside and then rip their face off to the upside. I have seen this in ATRS myself and missed a good upside.
Furthermore some technical trading algorithms might be fooled into shorting ATRS and then rip their face off too. Part of manipulation.
When I look at ATRS on the daily and the weekly using a six month chart span, I see what nthnsh sees and taken by itself would be cause for worry, maybe. But if I expand the chart to two years and use a monthly chart, I see a bull flag that flies to the right nine months off a flag pole made by June and July 2012's rally. The July 2012 candle goes from 3.65 to 5.58 and that is the height of the flag to the left. To the right there are 9 candles to where we are today in April, 2013. There is room for one more candle before the bull flag apex is reached. The apex is reached with little room between 3.28 and 3.41. I see a breakout to continue the bullish move we have all anticipated. Now, having said that, let's see it play out! Go ATRS, launch deck is readied for lift-off!