I'm new to TA, so want to use my charts as more of a point of discussion than a reason for internal alarm bells to go off! Being Aussie I'll also focus on ASX stocks, which may not get that much attention on TradingView.
Anyways, with AfterPay this week it looks to test support around the 6.33 mark, as investors take a breather after the recent earnings report. It will be interesting to see if it holds or breaks downward with higher than ave volume supporting the downtrend plus RSI and MACD indicators not giving bullish signals yet.
My view is that if it breaks support, there isn't another resistance level until 4.77 so there could be 25% downside risk to come.
Anyways, with AfterPay this week it looks to test support around the 6.33 mark, as investors take a breather after the recent earnings report. It will be interesting to see if it holds or breaks downward with higher than ave volume supporting the downtrend plus RSI and MACD indicators not giving bullish signals yet.
My view is that if it breaks support, there isn't another resistance level until 4.77 so there could be 25% downside risk to come.
Comment:
Should have listed to my own thoughts and sold! A few really bad days for APT last week.