Looks like ABAT is still in that sideways channel but just barely. It's starting to break to the down side. That candle formed Friday is not very pretty. It shows a lot of resistance at the middle bollie and the sellers stepped in hard.
Basically, it's sitting on a hair trigger. There are some indications on the chart it could fall below the bottom trend line. If that happens, it will probably come back down to test the $2 area. There is also a gap up on the chart in that area from the initial run-up. It's starting to look like that gap may fill on the way down if we get a trend break to the down side. I'd wait to see which way it goes from here before entering.
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