APN trade ideas
APN - Potential move higherWe may derive the following from the Daily APN chart:
1. Price has tested the daily resistance a few times.
2. We will need to wait and see what price does - a close above should push the price higher and fill the gap.
3. Monitor price action and be patient.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
$JSEAPN Aspen to face a fierce test against the 20 week maThe 20 week moving average (wma) has been been a tough nut to crack for Aspen since its rapid decline started back in September 2018. The 20 wma currently sits @ 93.89. If aspen can gain some traction above the 20 wma, see a close above R90.00 on the weekly (above the previous floor), one could see the stock gain some further traction with a first target at the 50wma (+-R118.00) currently. Encouraging is the fact that the RSI has pushed above the 40 resistance level which has also halted any previous advances in the share price.
APN - Tested previous spike lowJSE:APN has recently tested a spike low that it formed in March this year. It first it seemed like it had broken through, but it has since bounced and seems to be on its way up. Stochastic is confirming. If it breaks above yesterday's high, I will consider a long on Monday.