46.30 stop
entry 44.18
target 40.82 aka .5 std deviation
I dont believe that apam will continue to extend upside past 1 std deviation but will come back down to retest .5 std deviation
risk to reward ratio is descent on this trade at 1.55
APAM has formed an interesting structure
A large bowl can be plotted around prices history, this coupled with a strong uptrend allows the bullish assumption that the bowl will complete itself with a final bull move.
Final move back up to 70
At the 200 day moving average I believe APAM will be a good short candidate. Although it's financial ratio's appear "ok", they aren't going to be making any more money this year than they did the last, and with all other things remaining the same, expect APAM to move toward the mid-$20's.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore...
Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on May 26, 2022 with a closing price of...
BEARISH for the next few days but BULLISH Long-Term hold . Spotting divergence on RSi , MACD showing buyers weakening, hitting key 0.5 fib level on the daily downtrend. I believe it will come down a little and bounce on key support around 45.50. Fundamentals: Undervalued, pays good dividend 9.25%, earnings are forecasted to grow 5.22% per year.
Called out in the Chat my Wave 5 was not correct. I stand by it, with the correction of Lower Highs & Lower lows aka: A-B-C pattern. Now a new Trend. Cheers.
