Atwal, who ballooned to a 75 on third day, shot three-under 69 with two eagles, three birdies but also had four bogeys, including three in a four-hole span between ninth and 12th.
Atwal, seven-under for the week, has made only two cuts in 12 starts, but this result could well turn around things for him.
Meanwhile, Rickie Fowler (69) grabbed his first PGA Tour titles beating Rory McIlroy and DA Points in a three-way play-off at the Quail Hollow Club.
Fowler, a colourful dresser, gambled with a 51-degree wedge on the 18th that had given away only four birdies during the day. He came within four feet of a birdie and when he holed it he beat McIlroy and Points.
But McIlroy, tied second returned to No. 1 in the world. It was ironic since he used Quail Hollow as a place from where he took off for stardom, winning here two years ago.
Like Fowler, he is also 23, and there could well be a rivalry on the way.
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Points had a one-shot lead going to the 18th in regulation but he hit his approach in a bunker and never came close to a par. He shot 71.
McIlroy had a shot at winning in regulation and missed a 15-foot birdie putt, giving him a 70.
Lee Westwood shot a 66 and leaped to tied fifth, while Phil Mickelson (71) was tied 26th.
Tiger Woods missed the cut earlier in the event.