APT double top APT is back in play taking out previous highs, I see this as a blow off top move and will be looking for weakness next week Monday 19th. Their should be lots of chop if we break the psychological number of $100
APT
This ASX darling is about to break its all-time highAPT has been consolidating since its last earnings announcement on Aug 03. The result was actually great but it tumbled 20+% ever since mostly because of profit taking.
Now that its about to break its all-time high @ 95.97 after consolidated for two good months, only the moon is the limit ...
What to buy vs When to buy ?Many traders get too entrenched in spending hours after hours pouring over the net and attending courses to discover the holy grail of knowing when to buy a stock/index/commodity/ETF/currency/etc.
However, what's neglected is what to buy is just as important if not MORE. Why did I say so ?
Now, depending on where you are, you are probably familiar with your local stock index, ASX - Australia, SPX500/DJIA/Nasdaq ~ US, KLSE~Malaysia, STI~Singapore, etc.
So do you invest in your local index or choose a local stock to buy ? That depends on your investing objectives.
I would invest both for the following reasons -
STI - It contains a basket of 20 plus stocks which if I were to buy them individually would be too costly even for fractional shares. So, I would still invest it for long term as it offers a lower risk, stability and exposure/diversification
Individual stocks - this is where I can get picky because there are hundreds of them that one can choose from. My selection is based on trends, consumer behaviour , resilience to economy, etc. For example, I have some exposure in Industrial Reit, AIMS as I like the stable dividend growth and it is less affected by the current pandemic.
On a global level, the game gets more exciting. Many followers know I am a big fan of the China growth story and have vested interest in China A50 , Tencent , Pinduoduo among many others.
I expect the Covid-19 pandemic to be resolved by 2021 Q2 or earlier as we are now in the phase of vaccine production (article here , here , here )
Hopefully, once this wave is contained, we can start to identify those sectors that are badly affected during the Covid-19 pandemic to return to its glory days. Some sectors that are in my watch list includes but not limited to hospitality, retail (some over lapping as online retail like Alibaba, Amazon,etc are already included), transportation, construction (government worldwide will be investing heavily on infrastructure to help its economy). Healthcare will take on a different dimension as post -prevention will still remain a priority for many post Covid.
APT - Swing TradeTook an entry here on swing trade on APT.
Entry between $20.00 - $20.50.
Stop Loss at: $19.40 (around 4%) -- You can even go tighter on this one if you'd like
Profits: $24.00 (around 19% profit)
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Afterpay ChannelChannel based buy
Sitting at the bottom of the channel
A 'bump and run' is present
A bump is where it is knocked out of the channel briefly only to 'Run' back to the channel.
Did Afterpay just break it's uptrend?I noticed on the daily chart today for APT that it has potentially broken it's uptrend for the first time since March 23 this year.
The breaking of the uptrend itself doesn't mean its the end of the world, but in my experience, it's certainly a warning flag.
The closest daily support I can find (no a lot to work with) is around $65.80 (marked on chart)
Breaking both the uptrend and the support will be a red flag for me.
What do you think about APT? Are we seeing some resistance here, or merely a pause between rocket ships? Comment below!
Trade Safe!
Note - None of this is financial advice, merely an opinion and observation. There is no guarantee of anything occurring. Please do your own research.
Afterpay (APT)Break through the upward channel and close below 20sma on Afterpay (APT).
Target $59 which is next level of support/resistance, channel depth plus 50sma.
APT support/resistanceAfter failing to follow through with that H&S formed last week, we have printed some support/resistance for APT. The path of least resistance will be to follow the trend upward, and likely where we will go from here, but wait for confirmation before taking any trade.
H&S and potential reversal zone on APTI'll be watching APT over the next week to see if this correction takes place, opening up another possible buying opportunity. We are currently printing a head & shoulders w/ the projected price movement ending up between 61.8 and 78.6. Profits have already been taken from my previous trades, and I suggest anyone with skin in the game ensures they pay themselves.
APT short Squeezed The trade that wrecked my profits for this year, I got squeezed on this one multiple times and ended up breaking my rules and fighting the trade.
RULE #1 never break your RULES!!!
I have given up fighting the trend it's to strong I would love to flip long but it doesn't meet my risk management rules, but this one will defiantly be on my watch list to short once the ASX breaks down.
PS I have grit and I know I have an edge I just need to follow my plan and trade it, stick to the rules and protect my capital.
APT WatchAlpha Pro Tech (APT) has seen some good price action the past couple of weeks despite the overall market being flat and down. APT broke out of a descending triangle pattern and continued on strong volume before a selloff. However, a strong day today has kept the price in consolidation, forming a pennant pattern on the daily chart. If strong volume continues we can see a push to previously tested highs around 21, and potentially further.
$APT Breaks Above Confluence Resistance as Virus Numbers JumpAPT just broke back above critical range and sloped line resistance out of a clear MACD bull divergence.
That is being pushed by the idea that the three most populous US states (CA, TX, and FL) are flashing signs of a COVID-19 crisis stage.
APT - mask maker good story/technicals - run to 20-40?!There are a lot of things I like: daily MACD turning up, strong uptrend line, strong support at the 9 level which has been several times tested. I could see runs to any of the levels I have put dashed lines on -- lets round to 22, 30, 40. High short interest and headline benefits in the name could help propel this one further.
There are two things I don't like about this chart. First is that each of the more recent advances have been on thinner volume. Second is that each of these aggressive northward moves (way outside of bollinger bands 1 std dev from 20 ma) have been met with aggressive selling.
I have traded this a few times in the past (currently long Jul 10 calls) and saw it wake up today again on the news with CA requiring masks. What other states are going to follow?
What do you think?
$APT.ASX Short Set up$APT.ASX Short Set up
Nice Morning Star Doji on daily chart : Confirmed
Broken Trend line : Not confrimed yet
Stock overbought : Confrimed
if the stock breaks that trend line then short it for towards the first target