I've taken profit off the table on this one based purely on TA.
I think this will either:
a) Fill the gap around 18.85 and commence re-commence the uptrend b) Bounce from the last capital raising level c) Break the parabolic chart and fall like bitcoin
Personally, I think there is still more FOMO to go on this one. Sitting on the sidelines for now, but watching closely.
@PaulCruz Well done for picking the top here. Are you still on the sidelines?
PaulCruz
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@W82949900, Thanks! I'm waiting for another bounce from the 200ema to re-enter
Bipolar_trader
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i dont understand the short selling going on here. Fundamentals looks good, yes risk with regulations.
ArryD
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@NaviCoin, Shorting will be based on technicals, not fundamentals. When a stock runs up as hard as ATP is a pretty sure bet its going to retrace and its easy money by going short.
Bipolar_trader
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@ArryD, thanks for the feedback, yes you have good point and i also cited an article describing this.
Bipolar_trader
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I think the markets were spooked by the prospect of regulations on the Afterpay business model. There are concerns that millennials are going into debt from pay now pay later. Furthermore, it has been estimated that 24% of AFT revenue is from late fees that can amount to $68 per transaction. It will be interesting to see what happens in the next few weeks
PaulCruz
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@NaviCoin, there is definitely a concern of people not paying their AP debt haha. However, majority of customers prefer to pay through afterpay <—- just my opinion