The bears have been ruling APH.to and most of the sector since the September run. This was to be expected. Most of these names are consolidating and APH is no exception. From $22 to $15 in just a few weeks. Post consolidation and heading into legalization hype, we'll see more people investing in this sector because of the upsides. It's not unreasonable to think, based on peer evaluations, APH.TO wouldn't be $30 per share in the short term.
Comment:
We are holding support in the $16s and above $15.78. APH is in a technical nebulous zone with short term indicators bearish for some time, yet longer term still bullish. If the bulls return to control the short term, the bears will get pinched in between. Watch the wider sector and wider markets. Aphria desperately needs to announce its intentions to list on the US and get the paperwork in.