Updated
APHA Trying To Bounce
Nice 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....
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....
Note
For clarity, here is an example of the proposed alternatives. The red line marking the trajectory of a flat correction, the magenta line showing the deeper "zigzag".I'm really hoping/anticipating a flat though, I have to admit. I think we'll know when it tries for $4.90. A close above that would certainly be an indication of strength, and increase the possibility of a gap close to the upside. Notice also the moving averages...
Anyways, good luck!
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.