Symmetrical Triangle was a a text book trade. The previous trend was up. Price broke above the apex 3/4s in and the momentum continued up. We had further indicators of confirmation for upside to come. Price>20 Price>200 Target 1 R206.03 So what now? Well we can expect somewhat a consolidation, and a potential Cup and Handle to form. Then we have the next target...
Scanned a couple of stocks on the JSE and it was tough to find many decent setups although Aspen is one that stood out for me on the LONG side. 3 reasons I think this setup is constructive and likely goes higher to at least R200 (1) Weekly price action has been making consecutive higher lows since bottoming out in August 2019. (showing relative strength in...
ASPEN is potentially forming a Double Bottom pattern in a bullish momentum. Waiting for confirmation with a break above the neckline and confirmed support above 159. Potential target area of 188. Resistance at the Neckline could see it continue the previous down trend.
Still following Aspen progress - see posts below. However, it has taken some time. Looking for a clean break above resistance and follow through.
Following the progress of Aspen - see posts links below- we have seen a reaccumulation range. Some increase volume before the Easter break with a significant bar could be reading the stock to take the next step higher.
Following the markup in Aspen since the start of 2020 - see posts below - we are now ready to take the next step up. The last two days have had increased spread showing strength to start the markup.
$APN Cup and Handle forming with possible 150% gains. Handle pattern is completing and waiting for entry indication.
Refer to linked idea, this is a continuation. Can add to existing position.
The stock is In a rising channel. If price should move in the channel you can look to buy. At least I am!
Aspen has been trading in a downward trend on the weekly timeframe (see post below). After a backup, it has shown signs of strength. After a shallow pullback and some volume returning it could be ready to do the final leg to the overbought line of the downward trend.
Following Aspen move to the overbought line in a downward trend, we have now seen a backup (BU) and a markup seems to have started that could take us to R200 and a test of the overbought line. We have been following this move up for some time.
Aspen has been in a downtrend but after going oversold (see below) we have been following the recovery to the top of the channel. Some negative divergence points toward a continuation of the smaller uptrend that has been formed.
Aspen is at an important decision point. It is a level of previous volume at R140 where selling occurred. We have been following the stock signs of strength (see posts below). The relative strength is good and volume is increasing as price increases. However, the volume push is declining. The stock still looks strong but we may see a pause at this level. However,...
After a break the trading range and a pullback on declining volume, we are now looking for a markup to start.
Aspen has been showing strength but after a spring and signs of strength (SOS) price is now breaking out.
After a selling climax (SC) in March 2019 Aspen has been undergoing accumulation. A spring occurred in August and the markup in Phase D after that. Increases in volume on rising prices indicate buying. Volume and volatility has been muted indicating the stock is being held by strong hands. After a backup (BU) at the breakout level and yearly pivot point some...