Fida4u

Aphria move is close

TSX:APH   None
Aphria is currently consolidating in the apex of a bull pennant . The drop in volume is in accordance to a consolidation phase. The rsi is hovering above the 50 level and slightly curling upwards. I suspect a break out to higher levels. The EOM is slightly above -.0005. As of recently , every time the EOM is in the -.0004 to -.0005 levels, a rebound ensues. The triangle has already been touched 4 times, so a major move should be in effect soon after the bell rings on monday. The blue dotted line represents the 10 MA. A move above it, will be a step in the direction of a bullish breakout. In an enviroment where constant news flows are being pumped into the market, caution is warranted. A bullish break will set us up for new all time highs, if the latest high is broken. A break below the latest sell off will have us reaching the .236 fib level. Happy Trading
Sep 26
Comment: Aphria is flirting with the .786 fib level (18.92). The uptrend is still intact but Aph is positioned at a crucial level. A 4hr close below this level would indicate bears are in control.
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