APH was by far the weakest name in the sector today, breaking $18.57 support and signalling a major red flag for the bulls, putting the chart into a daily downtrend with a lower high and a lower low. $17.76 support broke as well, and the last level we have to play off of is the low of the oversold bounce $15.76. APH rejected on open from daily EMA4 & EMA8.
The price is now entering an area with a significant lack of price volume support, and we could easily see the price move down very quickly to below $17, and perhaps to as low as $16.00. There's significant support at $15.76 so a bottom-fishing play could be an option, but now that we're trending downward I would not be holding onto that position for too long.
Clarus sold a single transaction of 500,000 shares today, I'm speculating that Clarus is cashing in some of those shares on the open market for cash on behalf of SCYB. There could be further selling pressure ahead if they intend to cash out more shares on the open market.
Resistances are 18.24 and 18.53, support all the way down at 15.76
Nice analysis. I agree with you as SCYB need atleast 50 million cash for their florida acquisition by next 2 weeks.
I am looking to bottom fishing around support level 15.76 as well.
I am looking to bottom fishing around support level 15.76 as well.