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Afterpay

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
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by Mikey_Scali
Afterpay December Santa Rally? For the last 3 weeks I have seen Afterpay has been forming a wedging pattern (bigger than any previous similar pattern). A breakout of this pattern will shoot the share price to an immediate price target of $112. The downside potential still needs to be considered if breakout below the current price level. In the past two years of the month of December, Afterpay has had history of closing lower than the opening. However, there are more catalysts that will trigger an upside potential such as the stock market in general has shown strength in recent weeks. I am expecting Afterpay to rally into December/January before a slight correction or consolidation.
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by StevenWibawa
Splitit ready yet to take over the IPO high? 2+The high that was created by the hype during its IPO is ready to get taken over by the hype that's created from a cashless society. TA, - MACD daily golden cross - MACD volume increasing - Demand volume increasing - Broke out of bullish pennant - Bullish Moving averages Hoping for some consolidation at this level due to 2 massive supply tails at 1.915. Watch for the break of 1.915 and 2.00 FA, - BNPL hype - Pent up demand over the weekend. No, really that's a thing now. People hate weekends cause the casino is only open from Monday-Friday. - Visa, Mastercard, Stripe partnerships - Founder Brad Paterson :Former VP marketing at Intuit, Director for emerging products ANZ for Visa, Head of new ventures for Paypal - 460% revenue growth - MSV 260% (Creating win-win situations for merchants and SPT) - Gives the customer more options with 3,6,12,24 months unlike other BNPL's. - Allows the use of existing credit without interest rates. Less credit risk and easier to integrate with Visa/Mastercard ?
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by ashainp
2
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.
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by glennleese
16
Afterpays next big competition ? SEZZLE INC.I have been glad to get in on this penny stock, Just after its all time low of 34c back in March, Even tho Sezzle is still in its infancy stages coming into the scene in August 2019, I think this new company definitely has a lot of potential to grow in the (BNPL) category. The BNPL sector will be blowing up in the years to come, If the financial markets and unemployment rates keep making a downturn I dont see how people will be able to purchases the many essentials like clothing etc when their working hours have or will be cut back and well as the job losses, So the BNPL sector can help people with their upkeep of wanted items withougt the worry of paying it straight up. Even tho we have seen a drop in price back from October 2019 till March 2020 of 87% The price has made a pretty good recovery thus far with a 493% growth from its all time low, So very excited to see how Sezzle performs over the next year, Afterpay still sitting around $49 gives this penny stock a lot of time to grow.
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by steevyp2820
1
AFTERPAY LTD Wave 2, 3 & 4 (of primary wave 3)Given the recent market movements my primary count for APT has changed considerably. I will become far more bullish if we get a solid pivot at one of the areas mentioned below. The first entry to the last stop is ~ 25% drawdown so size positions carefully. A position of 5% of total account would be ~1.25% loss. Long Entry: 1st Entry for Wave 3 of Wave 3: $24 (0.5 fib of wave 1 in primary wave 3) Stops at $23 2nd Entry for wave 3 of wave 3: $20.80 (0.618 fib of wave 1 in primary wave 3) Stops at $19.50 3rd Entry for wave 3 of wave 3: $18.50 (0.707 fib of wave 1 in primary wave 3) Stops at $17.80 Target for 3rd wave of primary wave 3: ~ $66 (1.618 measured move of wave 1 in primary wave 3) Never Trust. Verify. DYOR. Not Financial Advice Just an Observation. Always remember: technical analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
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by TribeWriter666
14
Blue Sky Breakout | Bearish Divergence | Return to Trend line !Hello Traders, Today’s chart worth taking a look at will be AFTERPAY which is in a strong bull market respecting its trend line and is currently in blue sky breakout mode. A return to its trend line will post a good opportunity to long this instrument! Points to consider, - Bullish trend on all time frames - Major support at .618 Fibonacci Level - Blue Sky Breakout - Stochastics projecting downwards - RSI respecting downwards trend - EMA’s supporting price - Strong volume - VPVR showing high levels of transactions APT’s market structure is very strong with consecutive higher highs in place, price continues to respect its well establish trend line... A retest of this trend line is highly probable as the chart shows us that we have a potential bearish divergence forming where price makes consecutive higher highs whilst the RSI makes consecutive lower highs. Major areas to keep an eye on will be the .618 Fibonacci Level and the green highlighted area on the trend line, Price is more probable to test the trend line before a continuation. However if price fails and breaks down, then a retracement to the .618 Fibonacci will be highly probable before a continuation up. The RSI is diverging from price (Bearish Divergence), common when we see buyers running out of steam, last time this happened, price returned to trend line before another leg up. The Stochastics is currently projecting downwards momentum; we still have room for further downside if this bearish divergence was to play out. EMA’s are currently supporting price, if buyers are able to hold this area then the divergence will be negated and a continuation of the breakout will be more probable. We have strong volume although slightly declining and an increase in bear volume is currently in fruition. The VPVR shows a consistent level of high transactions, this tells us that there are many buyers and sellers looking at AFT at current given time. The probability of AFT correcting from current level is quite high if this bearish divergence comes to fruition. A good entry point will be on the trend line, however if it breaks, then the whole market structure will be negated… we then need to watch the .618 Fibonacci Level… What are your thoughts on AFT? Will this bearish divergence come to fruition and give us an opportunity to enter on this bull trend? Please leave a like and comment And remember,
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by AzizKhanZamani
3
Z1P LONG Term Possibilities With Zippay's current trajectory things are looking good for the next 3 months. I could only speculate a likely range of -10% - +25% within this period. The company recently launched in New Zealand which opens up the company to a new range of consumers/users. However, I don't believe that the company will grow any further than Oceania in this 3 month period, maybe within a 2 year period, but considering Afterpay's international domination it doesn't appear to be a likely move for the company. Who knows though? Especially me so... yeah. Hope this was helpful any feedback I am totally open for.
ASX:ZIPLong
by Losing_M0ney_247
$12 or $8 dollars after... for Afterpay - Double Top TBCHi All, At a price to revenue ratio of 36:1 at the time of writing, this is one hot stock! But is it really worth it? We clearly have a formation, but not confirmation, of a double top pattern for APT. We have a clear and solid rejection at the 28.50 zone and a 10% plus drop following. I don't think things are looking good for APT, not necessarily fundamentally speaking (besides the ratio), as I know a lot of people are bullish on this stock but at least from a technical analysis perspective, one has to ask are we about to witness a major trend change with APT? Now the supporting TA; Double top pattern As already mentioned, this is a yet to be confirmed pattern. The break of the middle trough between the peaks @ 20 dollars would confirm the pattern. The red arrows provide us with a possible drop range that we might expect. The larger the variance from peak to middle trough, the larger the expected trend reversal, and this is in fact supported by the underlying trend line established from April 2018, certainly a significant trend change IF confirmed. This alone of-course is not enough, and we do have additional supporting indicators below. RSI We have a bearish divergence on the RSI, with a down trend quite clear. The last pump to the second peak was not accompanied by wider market participation, and this trend seems as though it will continue. RSI would confirm at this stage that APT is currently out of steam. A cross of the trend line with accompanying price action would invalidate this indicator. MACD & Histogram MACD is showing signs of turning to negative cycle. Interestingly the strength of the recent up trend seems to be quite great albeit short and quick as Histogram clearly shows. This would support the RSI indicator reading and might suggest the last pump was really led by a few bulls, and not wider traders/investors. MACD and histogram fall in line with a double top scenario. MA's We can see the last pump pulled back our 7 day MA's over the 50 but has failed with the 20. It does not look like its going to cross especially with the drop we had following the second peak. The 7 day is largely going to indicate where we head from here. Both 20 and 50 are some what flat lining. Interestingly, the major trend reversal suggested by the double top would not only include a down break of the 18 month trend line, but also the 200 day MA. All confirmations of major trend reversal. The MA's do tell a similar story as the above indicators and fall in line with a possible double top scenario. VPVR Our volume profiles strongly support the above TA and Double top possibility. Our value zone is below the 18 dollar mark, with the final significant profile in this zone stopping around 11.37. Below this we find the next significant profiles 8.13 and below. These targets do also coincide with FIB levels as the 23.6 sits at that 11.37 dollar zone. Failure for this too hold would give us an 8 dollar possible buy zone target. Ichimoku Clouds Its looking like we are going to break again, and we can see trend change confirmed with this indicator. Summary We have a very strong case for a double top pattern with most indicators falling in line with the same scenario. A break below 20 dollars would provide us with this confirmation and I think things might get a little ugly from there. Important FIB levels also all coincide with critical pattern events, 78.6 current support, 61.8 double top resistance line, 23.6 assumed target . I think it will be a great buy opportunity, around that price technically speaking, but accompanying fundamentals should also be closely monitored with APT in the coming weeks. 36:1 price to revenue ratios are simply not sustainable, and it is not unfathomable that we see an APT stock lower than 8 dollars. SELL / STOP TARGETS Stop loss @ $20. Profit taking above highly suggested. The above is not financial or trading advice but possible mitigations if this scenario were to unfold. BUY / LONG TARGETS Target 1 @ $12 Target 2 @ $8 and below. The above are also tentative as even at these prices we still have quite a large price to revenue ratio. Technically however we could see a bounce from these point and accompanying TA at the time would have to confirm any possible trade. Confirmation Support @ $20 fails. Invalidation; New high created > $29 with a clear and strong candlestick close. Again, in the long term this stock might be a great performer, but the analysis would suggest we are due for a trend change. Thanks guys, leave a comment and let me know your thoughts, Traders-Corner *** Any trading advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information provided you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should seek professional personal financial advice before making any financial or investment decisions. All investment and trade decisions, no matter how well investigated, involve risk. ***
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by Traders-Corner