APHA will have to break the high of today, tomorrow, and bust through daily EMA resistances in order to start to get our attention. Losing the hourly uptrend would be a short term red flag and would increase the odds of a daily bear flag.
TraderNoxtreme with a quick, successful, swing trade recap.
We dumped hard on APHA (which was already pretty deep in a downtrend) during the first 30 minutes of the trading day friday.
This brought our 1 HR RSI to 20 and our 4 hr RSI to 31. I wanted to wait for 30 RSI on the 4 hour but after seeing 11 5 min candles with consistent bull volume and getting back...
APHA formed a large high 2 higher low two weeks ago which failed to trigger. Instead the bears formed a low 1 bear flag. However this is near the bottom of a large bull flag trading range, and a risky place to sell (large risk, low probability). Although the bears formed a gap around 11.25, and 9.25, they will more than likely be filled since prices are in a...
APHA still has no sign of the bulls despite daily oversold levels and we remain in a bear flag setup. Watching the hourly and 4hr charts for support holds and resistance breaks to let us know that the bounce is getting underway. There will be a profitable move once a bottom is found but there is still no sign of that being found at this point.
NOTE: I would stay clear of this one or be aware of the big risk. This is volatile as shit. So its very hard to make a safe entry and stop that isnt a pretty big loss. It has upside that could be big but, low risk > big profit.
The lines are some decent specific levels to enter or exit at, should front run a tad.
The boxes around the levels represent...
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...
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...
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
Aphria Inc is a Canada-based company, which is engaged in producing and selling cannabis. Through its subsidiary Broken Coast Cannabis Ltd and Aphria One facility, the Company produces and sells medical and recreational cannabis. Aphria One serves as the basis, on which the Company develops techniques in cultivation, extraction and processing cannabis. The purpose-built, indoor cannabis production facility of Broken Coast Cannabis Ltd provides the Company with B.C. Bud cannabis brand. Broken Coast cannabis is grown on the shores of the Salish Sea in small batches by choice, using single-strain rooms. Through its subsidiary and international organization Aphria International, the Company is focused on building a global cannabis brand. Solei Sungrown Cannabis is the Company's first adult-use brand. The Company has presence in more than 10 countries across 5 continents.
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APHA
