Today’s chart update will be on APHA which is forming an , close to breaking its neckline.
Points to consider,
- Trend change attempt
- Structural Resistance/ Neckline being tested
- EMA’s acting as support
- Stochastics in upper regions
- at resistance
APHA is attempting to change its trend by testing a critical technical level that has rejected it multiple times; a break will establish a higher high.
Structural resistance, in confluence with neckline is being tested; a break of this level will confirm the pattern, a reversal pattern.
EMA’s acting as support, bull cross has come to fruition, must hold true when key neckline, resistance breaks for APHA.
Stochastics in upper regions can stay trading here for an extended period of time, however lots of stored momentum to the downside. is at its resistance, key level being tested, must break for bias.
clearly increased, healthy that must sustain when trend change comes to fruition for follow through.
Overall, in my opinion, a break of the neckline will confirm a trend change, a higher high will be establish, initiating a new trend.
What are your thoughts?
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“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee,