ASPEN - Long IDEAThe stock is in an uptrend and consolidating into a bullish flat top triangle pattern after a powerful run up .
SL = R172.50 - R175 (Daily Close)
TP1 = R195 , TP2 =R205
A breakdown of the setup would likely target R160
APN trade ideas
Potential SHORT on ASPENJSE:APN has been threatening a reversal for over a month with the crossing downwards of the MACD, followed by the stochastic about 10 days ago. Now the 3 and 15 EMA's have finally crossed downwards triggering a short signal. If the trade gets taken, we will aim for a target around the 154 level.
#APN Aspen Pharmacare looking constructive on the weeklies #jseScanned 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 comparison to the market which has been moving lower.
(2) We are trading above both the 200 week moving average as well as the yearly Pivot.
(3) Divergency on RSI where RSI shows higher lows even though price made an equal low on the last move down.
I think one can buy this at current levels (approx R146.00), using a stop loss as a weekly close below 132 and a target of approximately R200. From a risk standpoint that's a risk of R14 for a target of potentially R54 which is quite decent.
Let's see how we go over the next couple of weeks
AspenJSE:APN is now above a key MA on the daily timeframe. But, there's that potential overhead resistance. On the watchlist for now. Patience is key, right?
Aspen weaknessJSE:APN back at the support level, the price is below a decline 200MA. One can only hope that it finds support at this level.
Long triggered on ASPENThe stochastic, MACD and 3 & 15 EMA's are all signaling a long position. With the price action just after opening this morning, the trade was triggered long and we are in the trade. Looking for a target at around the R176 level.
Aspen (APN): Potential Short EntryThe JSE being in an ambiguous phase of cycles, Aspen can be a good proposition to balance out the long positions. The short position is informed on the following:
1. Price went lower than 29 August (pink arrow)
2. The upper trendline is acting as a resistance now confirmed with 3 touches
A swing high confirmation is a good entry point with expectation to close the short position closer to the lower trendline, ideally should reach that point at the end of October.
A weekly close above the upper trendline is the stop-loss
ASPEN - ShortJSE:APN is showing downward momentum and could be ready for a short position. The stochastic, MACD and EMA's have all crossed downwards.
We are looking at a target for this trade at around the 119 support area.
ASPEN PHARMACARE HLDGS (APN) 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.
AspenJSE:APN has been consolidating since June, the stock is now at an area of value, at a potential resistance level. Waiting to see if it can break above, it'll be interesting above R165/share.
APNAspen Pharmacare APN 15052c - Ultra Short Term 'Trading' View.
Possibility of a minor retracement to it's 8 21 range, say ~14530c to 14640c.
1. Failing to hold it's prior session highs (exhaustive candle structure)
2. Trading close to 2x std dev, over 21 days
3. Retreating from declining overhead resistance.
4. 7-day RSI was at 85, now rolling over.
AspenAspen has pulled back rather dramatically from its highs and has found some support around the R130 level. Will be interesting to see if a potential double bottom has formed, or if it will break down lower. My stop would be on a close below R120.
Aspen upcoming earningsJSE:APN mini rally following a positive trading statement quickly fizzled. Aspen JSE:APN reporters that EPS will be between 32% - 37%. Audited results are coming this week, the numbers are expected to remain the same. The share is trading below key levels, the stock will need great numbers to push the price up, a promising setup is the price trading above R160/share. Otherwise, the downtrend in the stock will continue, especially if the price drops to R136/share.
APN: another leg higher?A price action above 14600 supports a bullish trend direction.
Crossing below this level will negate the positive stance.
Further trend support above 15100.
Consolidation between 14900 and 15500. Crossing above 15500 might target 16400.
Crossing below 14900 might be the first sign of weakness.
ASPEN - Analysis- Aspen has closed above the down sloping 50 day moving average for the first time since March ...
- While price holds above R140.85 we could likely to go test R171 level which will be a key level for the bulls to break to turn the tide on the downtrend
- Below R140.85 , a bear flag will be in play with a continuation of the down trend
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Cup and HandleAspen is still in a descending channel that is likely a handle of the Cup and Handle pattern.
Aspen Cyanide Pill.A long slow grind lower and lower for Aspen. Just a observation, not a trade idea.
AspenThough at a confluence of support (horizontal and incline), Aspen seem to be 'flagging' for another move lower. If confirmed, measured objective is around 110.
A break of that 150 support area can be 'shorted'.
APN rangeAPN currently trading in a small range between R150 and R160. The previous two ranges broke to the downside.
Keep an eye on the range break for the next move up or down.
Trade ideas are my own and not financial advice.
ASPEN weekly chart at confluence supportAPN has declined 46% since reaching a high of R281.50 back in September 2021.
currently finding support off this massive R152.00 level, Bulls could see good R:R potential here for the medium/long term
APNASPEN PHARMACARE (APN, 15772c) | As a medium term trade idea, my last sell as on 29 September 2021, the most recent peak while as a tactical trade, I recommended it as a short/sell last week. I looking at it as a buy/long as the price trades at three confluence levels: (1) trend line extending back to Aug 2019 & March 2020 (2) the April 2021 breakout level & (3) the lower boundary of the channel extending back to the peak of 29 September 2021. I don’t know how the market will open but I am looking at 15720 to HOLD as a pivot. Stop: 14830c. Target: 16800c to 17000c. These are provisional levels.
Aspen Pharmacare. Down 37% From 3rd & Final Sell CallThe final call was on the peak of 29 September. Looking back, good call (hope it helped!).
Down 37% From 3rd & Final Sell Call.
Updates 1 to 3 attached.
