Potential outside week and bearish potential for APX

Jun 7

Entry conditions:
(i) lower share price for APX below the level of the potential outside week noted on 5th June (i.e.: below the level of $1.08).

Stop loss for the trade would be:
(i) above the high of the outside week on 2nd June (i.e.: above $1.285), should the trade activate.

Jun 12

Trade active

UPDATE (week ending 12-Jun): Trade activated on Wednesday 10th June, with share price testing the short-term moving averages and 200 day MA at the end of the trading week from the underside.

Jun 19

Note

UPDATE (week ending 19-Jun): Price action for APX remained rangebound and sideways for the week, closing below both short-term moving averages and the 200 day moving average at the end of the trading week, remaining in 'wait and see' according to the trading plan.

Jun 26

Note

UPDATE (week ending 26-Jun): Definitive downward price action for APX saw the share price respect the short-term moving averages and decline beneath prior support of $1.00 from the open of 11th June. Traders and investors may wish to take a small piece off the table and improve profitable stops to a level slightly above the declining 15 day EMA.

Jul 3

Note

UPDATE (week ending 03-Jul): Share price continues to respect the short-term moving averages to the downside - same suggestion applies as per last week with respect to profitable stops to a level slightly above the declining 15 day EMA (currently $0.992).

Jul 10

Note

UPDATE (week ending 10-Jul): Share price continues to respect the short-term moving averages to the downside - same suggestion applies as per last week with respect to profitable stops to a level slightly above the declining 15 day EMA (currently $0.953).

Jul 17

Note

UPDATE (week ending 17-Jul): Share price continues to respect the short-term moving averages to the downside - same suggestion applies as per last week with respect to profitable stops to a level slightly above the declining 15 day EMA (currently $0.924).

Jul 25

Trade closed: stop reached

UPDATE (week ending 24-Jul): Profitable stops triggered on Wednesday 22nd July at approximately $0.925 from the original entry price of $1.075 for a 13.6% profit since 10th June - congratulations on a terrific trade!