APT.ASX_Range Breakout Trade_ShortENTRY: 89.00
SL: 99.15
TP: 70.06
- ADX>20
- RSI<50, RSI<30
- Daily RS -ve
- Daily FFI -ve
- Daily MACD -ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD -ve
- Breakout from range with good volume
APT
Afterpay Trading Opportunity?With recent move up from area of Moving Average 200-days, we can determine harmonic resistance level using Fibonacci Retracement at 0.618.
10% upside potential to reach the target. Or 20% when it closes the gap at $149 price level.
Beware of a potential pullback to fulfill the gap at $110 and $106.
APT Technical Analysis 🧙Alpha Pro Tech Ltd is involved in the business of developing, manufacturing, and marketing of disposable protective apparel, building supply, and infection control products principally in the United States. It operates its business through segment which includes Building Supply, Disposable Protective Apparel and Infection Control. It mainly offers a line of construction supply weatherization products, namely house wrap and synthetic roof underlayment as well as other woven material, different styles of disposable products like shoe covers, bouffant caps, gowns, coveralls, lab coats, frocks and other miscellaneous products. It also provides face masks and eye shields. It generates most of its revenues from the sale of products across the United States.
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Afterpay (APT) long Bullish trend, candle closes above 50 EMA. potential long position to the previous high.
APT Squeeze Round 2Haven't shared a chart for this since June, but it's finally time.
- Biden presidency = continued demand for masks for the foreseeable future
- Premiums are still surprisingly cheap
- Only $250MM market cap, so a move to $100 isn't crazy at all (would barely put it over $1B)
- Clear trend break
- Makes vertical moves out of accumulation
AFTERPAY (ASX:APT) potential shortAPT appears to be overextended to the long side and may be due for a slight correction.
Reasons for this evaluation:
--> Solid Bearish Engulfing candlestick pattern has occurred (Bearish reversal)
Last 2 bearish engulfing patterns along with an overbought RSI resulted in a reversal. This indicates a higher probability trade setup.
--> RSI is moderately overbought (As of the 22st @ 66.59)
--> ATR is at record highs
Each new major ATR high has result in some form of correction whether small (5-10%) or large (100%+)
--> Other Large Cap stocks on the ASX such as BHP,RIO,FMG have also provided bearish signals in the last few weeks and an overall market downtrend can support this evaluation
Reason that oppose the success of this evaluation:
--> APT as a single stock has a tendency to follow fundamental analysis rather than technical
This includes being extremely responsive to news catalysts, positive forecasts and more
--> Positive news reports in regards to tech and software can positively effect APT
**Any Supporting ideas that can improve the analysis of APT are all welcome
OpenPay (OPY) FY2021 TargetStarting to also gain momentum, after a number of really good reports, this particular stock has shown a healthy consolidation phase and is almost ready to rally. target is 10$ mid term but could extend up to 15$ depending on how the overall market performs. holding all significant support, looking to break resistance soon.
Zip Co (Z1P) FY 2021 Bull TargetsAs you can see, Zip Co have recently started gaining momentum upwards, after trading and consolidating at SPP range for a few weeks. this has been significant as it started show signs of strength that is maintained, and can continue to the rest of the year. Fundamentals are looking strong, and Technical analysis are certainly backing it up. at this current rate, I wouldn't be surprised if we reach the fib target at 20-25$ BY THE END OF THE YEAR. it held the golden .618 fib support and continued a strong rally towards ATH. I took a position at 5$ and very confident with the trade for the next 3-5 years. short term target however is 25$. long term target is 50$. if there are heavy shares buy back, expect a higher long term target.
Z1P tests resistance✔ Facebook Partnership
✔ Ebay Partnership
✔ Harvey Norman Partnership
Holding above the 200 Daily MA Z1P prepares to break out above resistance.
Z1P recently announced a SPP (share purchase plan) @ $5.34 per share. Ending on the 13th of Jan, the SPP may lead to a sell off as the current price is 3.8% above the offer.
Long term growth remains promising
- BreadCharts
APT - Getting Very RiskyAPT has been forming Higher Highs and has been in a superb uptrend but now it looks very risky at such elevated levels. As we can see that it has been supported by the upward trendline, we should also notice a Bearish Divergent MACD Cross which indicates that the Bullish Momentum may be running out of steam for now.
I believe that if we see the trendline break, we might see a follow through and price to plummet all the way down to Support at the $70.00 - $72.00 range. This could be a 35% move from current price level of $110.00. APT has been in a Long Term Uptrend and I think we might see a shift in the Medium Term Trend soon, which is fine and healthy for the Long Term Uptrend to continue.
Please note these are my own notes, by no means trading advise. Please do your own research before entering into any trade.
APT - Here We Are AgainAPT - Here We Are Again
BUYZONE = 10-12
1st Target = .236@14
2nd Target = .382@16
3rd Target = .5-.618 18/20
HODL Target = .786@22
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Breakout Incoming Mydeal (MYD)Compression triangle identified on mydeal
MYD has had strong growth in revenue/customers this year and will continue to expand as online shopping becomes more popular due to the COVID19 Pandemic.
A breakout is expected from here.