APH tobacco rumours ignite a bull move
APH had a solid move today on the back of a report of a potential investment from a tobacco company (yuck!). This is the most volume APH has ever seen, we we broke numerous resistances on the way up. There is no support here at these levels to be very careful if making any bullish entries.
Daily support is at 15.93. Key resistance is high of day 20.70, then 21.58.
We have to look at the 5min chart to find closer supports, and I see 19.54, 19.40, and then nothing until 17.19.
It's clear there were people trading yesterday on insider information, front loading for this move, where we saw the price run from 16.87 - 18.03 on very low volume while the rest of the sector was trading sideways at best. See below for yesterday's move, and compare the volume to the chart above and you can see the front loading taking place.
I did not swing a position because I am terrified to hold anything with the stock market dumping so aggressively. Tomorrow, I'm going to need to let the range establish itself first thing and wait for a break of that. Supports are too far away right now for me to be comfortable to play off of.
Congrats to the bulls - I missed the whole move but I'm happy for those of you who caught it. Just like that, we're approaching key resistances. After a 15% move today, we're only 20% away from all time highs!
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
Daily support is at 15.93. Key resistance is high of day 20.70, then 21.58.
We have to look at the 5min chart to find closer supports, and I see 19.54, 19.40, and then nothing until 17.19.
It's clear there were people trading yesterday on insider information, front loading for this move, where we saw the price run from 16.87 - 18.03 on very low volume while the rest of the sector was trading sideways at best. See below for yesterday's move, and compare the volume to the chart above and you can see the front loading taking place.
I did not swing a position because I am terrified to hold anything with the stock market dumping so aggressively. Tomorrow, I'm going to need to let the range establish itself first thing and wait for a break of that. Supports are too far away right now for me to be comfortable to play off of.
Congrats to the bulls - I missed the whole move but I'm happy for those of you who caught it. Just like that, we're approaching key resistances. After a 15% move today, we're only 20% away from all time highs!
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
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