APH saw a higher open this morning and broke the daily inside bar bullish but remains within its hourly equilibrium. The daily bull flag setup remains as the range gets tighter and tighter. MACD is curling up and we want to see a clearer spike tomorrow and increasing volume.
Bulls are trying to hold 19.79 as an hourly support but we're far from convinced that's our higher low. Next level is 19.62 and 19.32. It would be a red flag to break those levels, but 19.00 is must hold to remain within this hourly equilibrium.
Resistances is then 20.18 to break the equilibrium bullish. Bulls will then look up to test our recent highs 20.50, 20.70, and 21.58.
APH is a clear laggard to CGC and ACB that are at all time highs in full on breakout mode. I'll be watching to see if some profits from those names start to cycle into APH to give an extended run here.
Keep walking your stop losses up. We're in a euphoric bull run and we want to protect our profits from any sudden sell-off.
Also keep in mind the correlation to the overall market. SPY has its second daily inside bar to watch the range of tomorrow, and while a bearish end of day didn't affect the mj sector today, we have seen countless times where it has.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
Bulls are trying to hold 19.79 as an hourly support but we're far from convinced that's our higher low. Next level is 19.62 and 19.32. It would be a red flag to break those levels, but 19.00 is must hold to remain within this hourly equilibrium.
Resistances is then 20.18 to break the equilibrium bullish. Bulls will then look up to test our recent highs 20.50, 20.70, and 21.58.
APH is a clear laggard to CGC and ACB that are at all time highs in full on breakout mode. I'll be watching to see if some profits from those names start to cycle into APH to give an extended run here.
Keep walking your stop losses up. We're in a euphoric bull run and we want to protect our profits from any sudden sell-off.
Also keep in mind the correlation to the overall market. SPY has its second daily inside bar to watch the range of tomorrow, and while a bearish end of day didn't affect the mj sector today, we have seen countless times where it has.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.