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...
JSE:APN
Down 12% today with market been up all day.
Stopped at support around 8500
If that breaks next support is around 6300.
And if cup plays out target is at ZERO.
JSE:APN
Publishing results after close today. There are small head and shoulders in place with moving averages getting red.
On the other hand it is holding very well today with all selling on our markets.
What is interesting all market action is contained in daily bar on 19 March 2019 and very bad results published.
JSE:APN
After big drop it consolidates in down sloping channel. Tested top of the channel late in January.
Support at 13800. If it breaks bellow it will probably go and back test bottom of the channel that is currently around 11500/12000 area.
Looking at a retracement range between the following 2 values:
- .618 fib retracement
- 1:1 extension of a-b to b-c (C = length of A)
Potential long opportunity when those ranges are met.
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...
