APX - Seems that it has found Support

Since the March 2020 lows of around $15.00 to the Highs of $43.60 recorded in late August 2020, we have witnessed weakness in price value, but I think that APX has now found good Support at around $22.00 level, which is also 78.6% Fibonacci Retracement. I think that we may see some Consolidation (Accumulation) or a rise in price above the mentioned Support Level of $22.00, imminently.

MACD has crossed, indicating a decrease in Bearish Momentum and RSI bouncing off the Oversold region which also suggests that Buyers have found value at these current levels and we may witness a bounce in price soon. My Initial Target for the trade will be the next Resistance Zone between $31.00 - $32.00.

Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.

Comment:

Comment:

As mentioned earlier, and as expected, it seems that APX is consolidating on the current Support Level of $22.00. There is divergence in price and RSI as price of APX was coming down while RSI showing clear Bullish Divergence. My Initial Target for the trade will be the next Resistance Zone between $31.00 - $32.00, potetially a 40% gain. I think we should bounce off from these levels soon.

Comment:

Comment:

APX has been consolidating above Support of $22.00, and I believe that this is strong support and price should head up from here. Expecting a bounce from the Support.

Comment:

Comment:

APX is currently in consolidation phase on Strong Support but High Volume coming in now. Its earnings report is due on the 24th of February, and I believe that it may be a catalyst for APX to move to the upside. My target for now is $28.00 and then $31.00 - $32.00.