Not much is expected from the earnings release on Monday, it is a matter of how much are the losses rather than any gains. The entire sector is overvalued and is simply a speculative growth play with limited financials for this growth to be projected. Aphria was one of the first medical marijuana companies that was profitable that was until major expenditure was...
Hello Successful Traders,
The stock (APHA) has represented a negative (bearish) trend continuation within the previous year or so (since Jan 2018). There is a viable positioning aggregating to acknowledge that the direction of current PA (Price Action) will push south even further. Await confirmation prior to entering the market (as this may represent a falsified...
High of yesterdays bounce need to break for bears to gain control
-look for daily lower high compared to 9.83 if hourly breaks bullish over 9.35
-further downside if hourly breaks bearish under 9.15 during regular hours, next support on the daily at 8.08
APHA has been in a recent strong uptrend, displayed strong earnings last report, and is now in the final stages of forming an ascending triangle pattern. I believe within the next week or two the breakout will occur. I have determined possible buy and stop loss levels denoted by the green and red horizontal lines respectively.
APHA hourly chart is the clearest, bull break means we're looking up at our key resistance and bear break would have us looking for a daily higher low. Really bad timing on the bull break yesterday with so many sector names extended and needing to consolidate today, taking the wind out of APHA's sails as it attempted and failed at continuation
Money seems to be potentially leaving ACB and entering APHA and a few other names. Bulls remain in full control here, and I'm watching the rest of the sector for weakness and watching how APHA will be able to hold up in the face of that weakness
APHA bulls working to form a base of support and see the daily trend change back into their favour. First test will likely come Monday and then we're looking back to the upper limits of our tightening equilibrium
9.50 on APHA is a level the bulls are defending, if we lose that we're looking back down to our recent low of 9.15. APHA is the most likely name of the major names to drop down to lower lows because of the weak bounce and currently sits in a bear flag formation
APHA could barely break the high of yesterday before pulling back for the rest of the day. Still the name more likely to drop down to lower lows, if we lose the low of today tomorrow morning we will be watching for the bulls to attempt to form a daily higher low above the low of Friday. I still find the greatest clarity here on the weekly chart, where we are...
APHA bounce from Friday is lagging much of the sector, and is one of the most likely to drop down to lower lows on the daily. Bulls must break high of today first thing at open tomorrow, or we're looking down to test te low of the today and potentially break our weak hourly uptrend
APHA bulls are looking for bounce continuation on Monday, but need to do so with increasing volume right out of the gate. bounce volume so far is lagging behind the profit taking volume on the way down the past few days
Let's see if the APHA bulls can hold key daily support and change the hourly trend to possibly see continuation on the daily chart, or if we will break support and find ourselves in a potential weekly equilibrium
Decided to take a look at APHRIA on the Weekly (1W) chart, solely looking at:
- Macro trendlines
- Major support and resistance (i.e. major buy and sell zones)
This is solely of interest, I suppose, to a positional trader. I am interested to see:
- Will the price action bounce against the current macro downtrend in the next few months
(this has not...