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Volume Above Average Behind Breakout Gain - Monday, December 9, 2024
Atour Lifestyle Holdings ADR (ATAT +$2.96 or +11.17% to $29.45) was highlighted in yellow in the earlier mid-day report (read here) with pivot point based on its 10/07/24 high plus 10 cents. Hit a new all-time high with today's gap up and big volume-driven gain after consolidating near its 50 DMA line ($26.62). A strong close above its pivot point may clinch a proper technical buy signal. Through Sep '24 this China-based hotel operator's quarterly and annual earnings growth has been strong.The company has only 61 million shares (S criteria) in the public float which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 119 in Jun '24 to 131 in Sep '24,m a reassuring sign concerning the I criteria). Its current Up/Down Volume Ratio of 1.2 is an unbiased indication its shares have been under accumulation over the past 50 days.
Quarterly earnings increases through the Sep '24 quarter have been well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. Its annual earnings history (A criteria) has been strong and it has a highest possible Earnings Per Share Rating of 99. ATAT has a Timeliness Ratin of A and a Sponsorship Rating of A. Its Accumulation/Distribution Rating is B+.
