APHA- Vastly under-valued gemAs usual, Cannabis stock is facing the risk of regulation and black market.
After extensive sell-off starting in March 2019, APHA may have finally found its bottom at 2.
Short-term may be choppy, but I expect the uptrend to continue as long as the demand zone holds. .
Apha
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Go long now in the trading range or go long in the demand zone if the consolidation break-down happens.
APHA Trying To BounceNice bounce from trends line so far, but no follow through. It looks like our A wave is complete and we're headed into wave B. Possible FIB targets noted on chart. I bought at $4.43 right when it bounced from $4.38. There is still a gap to close, so I don't think a move higher would be bullish for now. The FIB target for wave C will be below $4 if we apply the A=C rule. I am really hoping for a flat, which would see wave B close that bull gap at around $6 before returning to the $4.30 range one last time.
We've just completed a leading diagonal, and those tend to retrace deeper. However, it could be that investor confidence has changed since this recent earnings round, and if so, then a flat correction would certainly make sense, given the momentum and investor sentiment that APHA enjoys at the moment.
In the end, the market does what the market does....
Falling Wedge breakout.APHA has broken the downward sloping resistance of the Falling Wedge pattern outlined in blue flush to the upside, and upon back testing the area of resistance it's now turned into support.
Notice the higher high creation for the first time since 2018 ATH's?
The Green pattern in this chart is an Ascending Triangle, and upon break out of this pattern APHA has created a Macro higher high.
Any pull back in APHA would need to hold either the top of the ascending triangle upon a back test, or the upward sloping green line of support if there's to be continued bullish price action.
APHA - Cup & HandleCorrection for wave ii will form the handle. I'll be trying to accumulate at $4.50 and $4.35. If this should fall below $3.96, I will have to find an exit.
APHA Breaking Out?My favoured count suggests a final 5 wave move down to the first weekly higher low. This expectation is based on the zig zag from this year's lows, as it is a textbook ABC, where C=A.
Regardless, it is possible that that ABC was a minute wave 1, and we could have completed minute wave 2. What we COULD be seeing here, is the start of minute wave 3 up. We have to break above $5.26 for that scenario to become a reality.
I've continued to count corrective waves, but sometimes one can get lost in an expectation, and lost sight of what is really playing out. The last wave up certainly qualifies as motive.
If we get a pull back from here, I'll be trying to buy at the gap close and get out if it drops below $3.96.
Alternatively, I'll buy a break above $5.26.
Neither alternative (bearish or bullish) has been confirmed yet, so all is still possible. We may even get more complexity from here...
$APHA Beat the Trendline. Time to Move Funds from Stock to BankAPHA is playing along with our thesis perfectly -- and so are the analysts. In our piece on July 6, we said "This trendline has to be beaten!" because APHA is the value darling of the space.
Now, after a high-profile upgrade and target increase, the trendline has been beaten, and the stock has made a home in our green circle. Time to bank most of the position after a quick 18% run.
APHA UpdateBreaking above $5.20 would render this count useless. So far, it looks like wave 2 is complete.
I'm buying the dip, if any dip. What are your plans?
Waiting for $APHA hereTrend line established in March, tested in May, and I think will provide an entrance before next ER in July
APHA - I'm really on the fence...My earlier publication showed a possible correction yet to finished with a 5 wave move down, to look for a weekly higher low. The charts really don't provide any clarity at all, atm. In fact, I'm starting to consider if perhaps we're looking at an impulse wave up.
Falling below $3.97 would rule out this possibility.
I am anticipating a decent pullback of the Dow Jones, SPY, QQQ. So I am very careful right now. I'm not getting in until I'm sure we're breaking through the yellow zone. If we do, we're looking at an Intermediate wave 3, which is the most epic of all. Breaking lower would confirm that we're completing an intermediate wave 5 down.
Right now, I really don't know. It really can go either way. But if you zoom out to the daily charts, this nice run we've had since this year's low, mostly looks like an ABC for a wave 4, and that is perhaps the biggest hint we have right now.
Levels on watch, I bet she's going to keep us in suspense for some time to come, still. Earnings due in August/September. That would be a catalyst. I've also picked up on rumours about ACB and APHA investigating a possible merger between the two companies. That is nothing to buy on though...
$APHA Engages the Battle of All Battles for the Pot Stock SpaceAPHA is clearly the "value" darling of the pot stock space.
Shares have a distinct battle now engaged, and the results will show us quite a bit of the game as traders evaluate the sustainability of the cannabis bull trend.
The trend line needs to be beaten!
Or Bullish Falling Wedge?This could actually end up being a possible falling wedge... signaling a bullish trend up.
APHA - Bullish CypherWe have a motive wave down, into a perfect zigzag upward, rejected at a trend line. We may be in an impulse wave down, toward a weekly higher low.
There is a Bullish Cypher in play, that would indicate a possible target for the current move. Buy within the target range to catch the next leg up.
Longer term, there is a Bearish Crab in play, that suggests to sell at the market green targets on my charts. Here is the link to that idea, posted some time ago. Both suggested patterns here, are still in play!
APHA - on the sidelinesThe current setup looks impulsive to me. I would like to see it break higher before going long. We've had a nice recovery from the lows, and it is possibly time to look for a weekly higher low, to confirm that the bottom really is in...
APHA and the Broader IndustryI'm not optimistic. It would seem that we are looking for a weekly higher low...
The current set up seems to rule out a motive wave, suggesting that we are still in a larger regressive wave (down)...
Thoughts, anyone?
APHRIA - Looking BullishIf it holds 4.44 next week, it should be bullish. If it breaks 4.33, be careful on the downside.
APHA H&SMaybe... Trade with caution. I've been anticipating a pull back to $3.89 to make that weekly higher low. Still bullish, longer term.
[APHA] Stabilizing at it's Bottom, Wait for Better Value?Looking for a good load up point here before earnings. Anything around $3 or under is solid value.
Don't expect it to ever set a new low but may approach low retest if next crash is severe enough.
$APHA Dip at OPEN will be a BUYING opportunity!!APHA will likely dip towards the 200MA
on the open but then will raise to get
back into the previously established channel
on its way to:
1st TARGET - 7 and 25pennys
Half a BILLION in $$$$
This company has a STRONG balance sheet!
