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Apha

Inverse Head and Shoulders| Key Resistance| Trend Change Hello Traders! Today’s chart update will be on APHA which is forming an inverse head and shoulders, close to breaking its neckline. Points to consider, - Trend change attempt - Structural Resistance/ Neckline being tested - EMA’s acting as support - Stochastics in upper regions - RSI at resistance - Volume increase APHA is attempting to change its trend by testing a critical technical level that has rejected it multiple times; a break will establish a higher high. Structural resistance, in confluence with neckline is being tested; a break of this level will confirm the inverse head and shoulders pattern, a bullish reversal pattern. EMA’s acting as support, bull cross has come to fruition, must hold true when key neckline, resistance breaks for APHA. Stochastics in upper regions can stay trading here for an extended period of time, however lots of stored momentum to the downside. RSI is at its resistance, key level being tested, must break for bullish bias. Volume clearly increased, healthy volume that must sustain when trend change comes to fruition for follow through. Overall, in my opinion, a break of the inverse head and shoulders neckline will confirm a trend change, a higher high will be establish, initiating a new trend. What are your thoughts? Please leave a like and comment, And remember, “Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.” ― Yvan Byeajee,
ALong
by AzizKhanZamani
Is APHA trading in a micro descending triangle?It' possible that if this pattern plays out to the downside Aphria sticks in a Triple Bottom some where equal to the previous two bottoms where I have the green volume icon, ideally the third bottom should be higher than the previous two. Key Takeaways A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears). A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance. There should be an existing downtrend in place before the pattern occurs. The three lows should be roughly equal in price and spaced out from each other. While the price doesn't have to be exactly equal, it should be reasonably close to the same price, such that a trendline is horizontal. Only time will tell, but on a five year chart there's merit for a giant bull flag, see attached chart, or it's possibly a descending triangle. But you can also see a inverse H&S, a lot of familiar bullish patterns.
ALong
by ScotianBot
APHA Bullish Divergence | Double Bottom?Hello traders, Apologies, been under the weather the past few days, but now I’m back! Today’s chart update will be on APHA – APHRIA Inc – Canadian MJ. Which has been in a brutal down trend, but there are signs of a possible reversal… Points to consider, - Trend Bearish - Support at $3.90 Region (double bottom) - Price testing resistance - Stochastics trading in upper region - RSI diverging from price - EMA’s giving price resistance - Volume declining The trend has been putting in consecutive lower highs as it approaching its possible apex zone. The green highlighted zone is the current support level with a possible double bottom, signalling that buyers are strong. Resistance is poised by the trend line, which needs to break to negate the higher low market structure. Stochastics are currently trading in the upper region, can trade in this region for an extended period of time, however lots of stored momentum to the downside. The RSI is currently diverging from price as it puts in higher low whilst the price has put in lower lows, The EMA’s are currently giving price resistance, needs to cross bullish to support price in testing upper resistance levels. Volume is visibly declining; an influx of volume will confirm the direction of the break. Overall, in my opinion, a break is imminent as we have a probable bullish divergence and a double bottom coming to fruition. APHA needs an influx of volume with follow through; this will avoid a possible false break. What are your thoughts? Please leave a like and comment, And remember, “Never let a win go to your head, or a loss to your heart.” – Chuck D.
ALong
by AzizKhanZamani
1
CGC $12-$13 BottomBeen calling $12.5 for a couple weeks now, and a few things making this setup perfect. 1. It's reaching this level in extreme oversold conditions 2. Overall market on fire at ATH rn. 3. Santi Claus is coming? Looking for a really nice monthly bounce. Below are my targets, and whether or not I take profit at 1 or 2 depends on how we get there. Target 1 = .382 Fib of the drop from ATH ~ $23 Target 2 = .5 Fib of the drop from ATH ~ $27 Target 3 = .618 Fib of the drop from ATH (Main Target) ~$33 Risk: Will be scaling into OTM APR options to maximize my R/R, and taking on 100% risk, as I am confident we WILL get a bounce at some point soon because of how extended we are. Wheter it's $13, $12.5, or even $10 it doesn't really matter, I'll just have to lower my targets. GL to all my MJ bulls. Better days ahead. -ill
CLong
by Illm4tic
$APHA Looks To Have Bottomed$APHA is out today with a strong earnings report and the fundamentals point to the worst being over for the company. Here are the highlights: Cannabis products producer Aphria (NYSE:APHA) is up 22% premarket on light volume in reaction to its fiscal Q1 results released this morning. Highlights: Revenue: $126.1M (+849%); adult-use cannabis revenue: $20M. Kg equivalents sold: 5,969 (+7%). Average retail price per gram: $7.56 (-1%). Net income: $16.4M (-23%); non-GAAP EBITDA: $1.0M (+125%). 600K plants being cultivated in Aphria One facility. Fiscal 2020 guidance: Revenue: $650M - 700M (distribution revenue will represent slightly more than half); non-GAAP EBITDA: $88M - 95M. We repeat, $APHA is profitable. Shares have a lot of room to make up on the upside. As always, trade with caution and use protective stops. Good luck to all!
ALong
by InsiderFinancial
1
ACB Moving into Earnings todaySlight bearish convergence on the Stoch, and also RSI indicating a possible hourly pullback. Earnings are guided, so the revenue figures are not very likely to drive the price upward. We're looking for profitability. ACB predicted Q4 profitability. The press release issueing earnings guidance only mentioned that they are moving closer to achieve positive EBITDA. Any disappointment on that front will see ACB retest key support at $5.89, and possibly the lower $5 range. ACB is currently at the top of its downtrend channel, after a nice bounce. Bulls are looking to break $6.30 on large volume to see the price move back up to test $6.65 and $6.83. Regardless of all the positive news and change in broader market sentiment, not a single pot stock has posted a higher high above a long term downtrend. I feel that all of the past few days' moves, has been correctional, and not neccessarily bullish. I do feel, however, personally, that the current price levels present excellent buying opportunities for long term investments. If your time span is 4 to 5 years, then ACB, APHA and CRON are buys. CGC, on the other hand, could still have significant downside. I think that the King of Cannabis is about to be de-throned. Has anybody considered Creso Labs, btw. No debt, pure USA play, excellent pressence, and much worth a closer look. Please share your thoughts?
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by Barkworth
7
APHA - Finally regained investor confidence?Everybody has been on the sidelines after that Citrus Research short play. Suddenly, this excellent news. Ignore the positive EBITDA, but look at the revenue growth. Last time APHA posted really great news, it trended up with almost 80% in under a week. Looking at the charts, we could be testing those levels again soon. It makes sense from a technical perspective, and you know, the chart always knows more than you. I was never in APHA before, but bought in at bullish confirmation after the dip to $6.30. I entered at $6.69, just above the daily 50MA. My stop will trail the 50MA, with a little downward margin, to avoid stopping out by wicks. Lets see what happens. Levels on watch, trade safe!
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by Barkworth
1
Pot Stock Take OffThis stock took off today after reporting positive earnings. We will be watching this stock for a continuation trade tomorrow. Main levels to watch are 7.45, and 7.00. If you're looking to go bullish, watch 7.45. And if you're looking to short this stock, watch the 7.00 level. Maketshare News: "Aphria shares soared 38% Friday to lift the broader cannabis sector, after the Canadian company posted a surprise profit for its fourth quarter and offered upbeat guidance for fiscal 2020. Aphria APHA, +40.96% APHA, +40.14% said it had net income of C$15.8 million ($11.9 million), or 5 cents a share, compared with a loss of C$5 million, or 43 cents a share, in the year-ago period. Sales rose more than tenfold to C$128 million from $12 million a year ago."
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by TradeWithTyler
1
Fortress Investment Group Allocates 39.56% To Their HoldingsEntry 1/2 ****STOP 8%**** We routinely review hedge fund filings, and the trend is becoming clear: funds are bullish on oil. From Warburg Pincus, to Elliot Management, concentrated funds are betting big on the energy sector. The reason why we chose this particular oil company was because of two reasons. First, and most importantly, the risk reward is extremely attractive right now because the price is coming off a key support level. Those supports were breached on two separate occasions, but, both times that happened was during a significant market correction. The second reason we like this stock is because of the extent to which Fortress is concentrated; 39.5%, a bold prediction. Since the stock is ranging, $26.00 looks like a good area to consider taking profits. Entry 1/2, ****STOP 8%**** Good luck as always and happy trading everyone **********WE ARE NOT FINANCIAL ADVISERS. THIS IS A HIGH RISK TRADE. CONSULT A FINANCIAL ADVISER BEFORE BUYING ANY PUBLICLY TRADED SECURITY. WE DO NOT OWN THIS STOCK, NOR DO WE INTEND TO BUY THIS STOCK IN THE NEAR FUTURE. WE ARE NOT BEING PAID TO WRITE THIS OR BEING COMPENSATED IN ANYWAY. YOU SHOULD NOT USE THIS INFORMATION AS INVESTMENT ADVISE. ALSO, BY READING THIS ARTICLE, YOU AGREE TO INDEMNIFY US OF ALL LIABILITY FOR ANY LOSSES INCURRED FROM USING OUR INFORMATION AS THE BASIS FOR AN INVESTMENT DECISION *****
NYSE:VSTLong
by InteractiveSwingTrading
1
APHA Swing Trade RecapTraderNoxtreme 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 within the lower VWap I decided that this was likely the volume climax of our downtrend and we should get a more significant bounce considering how much ground APHA has lost on the longer term time frames. I also thought, with how quickly we bounced back up into the VWap, it is unlikely we would drop straight down to form a lower low compared to 6.25 being that the 1hr came of a pretty extreme oversold levels and the 4 hr was already almost oversold. I entered right before another small dip (see the wick there) but was confident that I had made a good choice as RSI was back oversold on that wick. APHA was in a pretty strong uptrend the rest of the day after that. There was also good strength into the end of the day so I decided to hold through the weekend expecting the strength to continue and it did. Looming CGC earnings did make this a higher risk hold then it would have been otherwise but it worked out. My exit was late. I literally had a sell at 7.22 which I let be for over an hour when the 1hr RSI was overbought but bulls just ran out of gas and could not fill it. Once the stock became weak at the end of the day I had to chase the price down and eventually market sell adding 5 cents of slippage to my exit which ended up being 7.05 unfortunately. What prompted my exit was the fact that we rejected for the 50 MA on the daily near the end of the day after two strong bull days. If we turn around and break the 50sma on the daily tomorrow I will consider re-entering expecting a test of the 200sma on the 4 hour and then a potential test of our 7.54, 7.68 and 7.98 resistance levels before we have some good room to run and even a gap to fill. I expect we will make a higher low around 6.91 before we get that continuation IF we get continuation. I have started a discord chat for skilled and new traders alike. If you want to share your knowledge or learn please join. discord.gg
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by Noxtreme