ASX:APT has been on fire for the last few month. from the 8$ to the 74$ this is a staggering increase in such a short time. But is this rocket gonna keep going to the moon or it is time to Stop and Reverse to the mean. lets deep dive and analyze.
In last few days(price was at 59$) the uptrend showed some signs of weakness with a RSI bearish divergence, but the bulls said nah nah and continued to push the price up. There is much frenzy going on with BNPL stocks which I think is propelling this stock to the moon. From the Technical Analysis the stock is still in the bullish momentum hence I would tell bears to wait and see no need to short atm. Do never stand in front of a high speed train. Lets analyze what the technical indicators say:
Bulls:
- price above 200MA and 50MA
- daily and weekly upward momentum
- uptrend line still intact
- LSMA still pointing up
- accelerator still positive
Bears:
- RSI very high
To me I think bulls are still in action till the time the indicators such as PSAR and LSMA start showing weakness signs which is not there yet. I will keep an eye on this stock and let you know when I think it is safe to go short.
Stay safe and have a profitable week ahead.
Don`t forget to smash the likes.
XTF
In last few days(price was at 59$) the uptrend showed some signs of weakness with a RSI bearish divergence, but the bulls said nah nah and continued to push the price up. There is much frenzy going on with BNPL stocks which I think is propelling this stock to the moon. From the Technical Analysis the stock is still in the bullish momentum hence I would tell bears to wait and see no need to short atm. Do never stand in front of a high speed train. Lets analyze what the technical indicators say:
Bulls:
- price above 200MA and 50MA
- daily and weekly upward momentum
- uptrend line still intact
- LSMA still pointing up
- accelerator still positive
Bears:
- RSI very high
To me I think bulls are still in action till the time the indicators such as PSAR and LSMA start showing weakness signs which is not there yet. I will keep an eye on this stock and let you know when I think it is safe to go short.
Stay safe and have a profitable week ahead.
Don`t forget to smash the likes.
XTF