Falling Wedge has formed on Aspen.
The price has broken out and looks like it's set to rally.
A conservative trader could wait for a retest, or an impulse trader could trigger it now.
7>21>200 -Bullish
RSI >50
Target - R194.76
SMC: Sell Side LIquidity
Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for...
Scanned a couple of stocks on the JSE and it was tough to find many decent setups although Aspen is one that stood out for me on the LONG side.
3 reasons I think this setup is constructive and likely goes higher to at least R200
(1) Weekly price action has been making consecutive higher lows since bottoming out in August 2019. (showing relative strength in...
JSE:APN has been consolidating since June, the stock is now at an area of value, at a potential resistance level. Waiting to see if it can break above, it'll be interesting above R165/share.
Watching JSE:APN closely, interested in seeing today's close. Will it manage to stay above the 200EMA, or it'll close below it? Not interested in a long position below that level.
Traders don't like gaps in the price and there has been a large gap in JSE:APN since March this year.
The price ha finally reached the top of the candle that caused the gap, and if it confirms a break above the spike, I wouldn't be surprised if it goes all the way up and closes the gap. Let's wait and see what happens.
JSE:APN has reached quite a significant resistance level which could mean a change in direction to the downside. I will keep an eye on this one to see if it breaks through the resistance and continues upwards. If so, I will enter long.
My outlook is bearish, however, and I anticipate that it will fail to break through and turn downwards for a short. As always, I...
A bullish engulfing candle pattern formed on JSE:APN friday at a support level. This could mean an upswing is imminent. The stochastic has also recently made an upswing.
I am expecting a bullish momentum as we complete a correction pattern, before further downside. Targets should be at the top of the flag pattern and position size small, as we are in a downtrend.
Aspen is a global supplier and manufacturer of branded and generic pharmaceutical products as well as infant nutritionals and consumer healthcare products in selected territories.
ASPEN has been under the microscope over the past few years with various negative rumors and investigations driving the share price lower and lower. I believe that we haven't quite seen...
Last week Lester highlighted APN as as "opportunistic buy" after the fall from R290.
It looks like R263 to 264 is still a level where buyers have lined up to take advantage of the fall. This is also in line with the 50dma.
Once again stay cognizant of the USDZAR.
MariusGrobler301 is having a look at this trade for our clients.
