APHA confirmed the daily bear flag, while the rest of the sector is still holding key support - but the bulls don't have my confidence it will hold. APHA key levels first thing tomorrow is the low of today, and the high of the recent daily bounce. S: 11.86 R: 13.75
The oversold bounce is starting to feel toppy with a bearish reversal candle on the daily and declining volume. The high of the day rejected from the 20MA and we're in an hourly equilibrium now to determine if we're going to see bounce continuation or set a higher low on the daily chart. I would also look towards Canopy for clues on how the sector leader...
Quick updates tonight. APH saw a 12% bounce from the low of the day today and after the first 30 minutes, gave a whole lot of nothing. Aphria may have enjoyed the largest bounce today, it remains positioned weaker than Canopy heading into tomorrow. We spent most of the day inside an hourly equilibrium that has yet to set a higher low compared to the low of...
APH followed Canopy Growth's lead breaking its 4hr equilibrium bearish, and shortly later confirmed the daily bear flag, dumping the rest of the day closing down over 17% in one of the most stand-out bearish days this sector has seen. There is no doubt in my mind this weakness is in large part to the overall stock market dumping for the past four weeks, so be...
APH is in a similar boat to Canopy right now, stuck inside a 4hr equilibrium. The range here is 18%, over twice as large as the range Canopy finds itself inside. We are seeing the MACD start to curl upwards for the first time in quite a while, and we are patiently waiting for our higher low to be set relative to 14.11. APH has also bounced off of the golden...
APH is also in a 4hr equilibrium, the break of which will give us clues to either further sell off or to the low of the dump being in. I'm looking at support of 14.11 and resistance of 17.33. Our lower high may be set at 16.77 but I'm not yet convinced by this. A break of 14.11 and we're looking down to 13.76. A break of resistance and we have a lack of...
Medicinal ETF and Bitcoin
Taking a different approach today, starting with the long term weekly chart. APH looks more and more toppy with each passing week with bear volume standing out and upper wicks of profit taking. Bulls were barely able to break the high of last week. Our weekly lower high is now set at 20.96 and the must hold level to maintain the weekly uptrend is 15.76...
APH saw a higher open this morning and broke the daily inside bar bullish but remains within its hourly equilibrium. The daily bull flag setup remains as the range gets tighter and tighter. MACD is curling up and we want to see a clearer spike tomorrow and increasing volume. Bulls are trying to hold 19.79 as an hourly support but we're far from convinced...
After a huge move on reports of an investment by a tobacco company, APH is trading in a 4hr equilibrium with multiple daily inside bars. This is one of my favourite setups. As expected we have decreasing volume on this consolidation. The range to watch is today's range; Break 19.00 bearish or break 20.00 bullish. Note that 19.00 would not break the equilibrium...
APH gave us a daily inside bar today as one could expect after such a volatile day yesterday. Our pattern is clearest on the 1hr chart as we see a tightening equilibrium. We have our lower high at 20.50 and the bulls are now searching for a higher low; a new base of support above 18.60. The daily chart is currently in a bull flag setup and to confirm the bulls...
APH had a solid move today on the back of a report of a potential investment from a tobacco company (yuck!). This is the most volume APH has ever seen, we we broke numerous resistances on the way up. There is no support here at these levels to be very careful if making any bullish entries. Daily support is at 15.93. Key resistance is high of day 20.70, then...
I wanted to re-sound the alarm on this, other people have said this stock is undervalued, and I am going to repeat their findings, this stock is grossly undervalued compared to its peers. Everyone has been going all in on Aurora Cannabis, Canopy Growth, Aphria etc. Now is the time to trim your positions in the bigger cannabis companies and rotate it into...
APH continues to show weakness on the daily timeframe and is still a potential bear flag setup. We were unable to break the high of Thursday but broke the low, continuing to test down towards that very key 15.76 support. To negate that bear flag setup, bulls have to hold that level and break convincingly above 17.28 with big volume and follow through. If they...
APH has a similar setup to CGC and WEED but is far weaker; Canopy has seen enough of a bounce and a moderate enough pullback to potentially see continuation of the oversold bounce, but Aphria doubletopped at the high of yesterday (breaking by only 2 pennies) and had a much more aggressive pullback today. Both Canopy and Aphria are potential bear flag patterns on...
APH once again held key support, making 15.76 a very important range to watch in the coming days and weeks. Bullish reversal candle on the daily, and a daily inside bar, bulls want first thing tomorrow to break the high of the day 17.26. There's a support at 16.68 but price hasn't bounced enough from that level to convince us that's the new hourly higher...
APH gapped down today, filled the gap, then turned around and never looked back. I held a short most of the day today and covered it a little early just under $16.30. Support at 15.76 held by two pennies. APH saw such a significantly bearish day because after losing 18.57 last week, the next support was 15.76 - a full 18% below. We're at the point where we can...