APN trade ideas
APN - Watchlist Potential Trade Idea: The price action in APN has been lacklustre and possibly has some work to do, but if it breaches line A_B, then a possible swing long may be on the cards (out of this rectangle/base). PAY-tience!
JSE:APN Aspen Ready for Markup to Continue?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.
Aspen Hitting Major ResistanceWas anticipating a dip but weeks news saw Aspen recover nicely. Needs to get past previous resistance.
AspenAspen has a strong resistance at R146 ,prices have passed that zone few weeks back but failed to continue the uptrend ,resulting in a fake out. With the role out of Vaccines Aspen might be able to breakout the resistance at R146.
Aspen look set the for a new high close above 15470Aspen is having a tough time breaking into the 15000c - 17000c box. We have a nice combination of head & shoulders & Ascending triangle. We had what seem to be a false break recently. Waiting for a close above the recent high of 15470c. The last time Aspen closed above this level was October 2018.. When we get close above 15470c I will go to my position and pull my stop loss order to 13881c from 13413c.
Trade Summary 22 March 2021
Average entry: 14472c
Position size: 14.5
Stop loss: 14325c
Risk: -153.56c
Risk%: -1.84%
APN: temporary correction unfolding?MACD bearish crossover (see the lower panel).
Upside momentum peaked, supporting a bearish trend.
Change in trend direction to bullish above 14908.
Target: 14354, with an extension to 14070 likely.
Stop-loss: 15034.
Trade setup probability for this trade to unfold as expected: 67% out of 100%.
APN - 1D - TECHNICALS BEARISHWeekly and daily stochastics show overbought positions. Multiple Doji candles show indecision in the market. On weekly chart, it shows a Fibonacci retrace to 0.382 of a downtrend. Divergence on Stochastics in play. Fundamentally Aspen does forecast sales growth? If it breaks above 0.382 retrace it could go further. I would not buy at this point.
Aspen moving to the R150 - R167 box
The stock is moving to the R150 - R167 box from the R127 - R150 box. I added to my position at R150.99, pulled my stop to R134.75
APN: Bull flag pattern unfoldingBullish confluence of technical indicators supports upside potential.
APN needs to break R150Once that R150 level is breached, it looks like it can test the upper channel line.
APN BEARISH FLAGAspen might be doing good for now short term but the long term support has broken & investors are pulling out
JSE:APN Aspen Ready for Next Step UpFollowing 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.
Update on $JSEAPNUpdate on $JSEAPN, a break above 148 targets 155-160 zone where we had the previous swing high.
Aspen still looking good. Testing patiencePosition
Average Entry: R143.09
Quantity: 11.5
Stop loss: R133.04
Risk: -R10.05
Current Risk ZAR: -R115.58
The stock has been looking good for for some time now. Breaking into higher boxes. Looking for a break to the R150 - R192 box. The stock is still trading in the R108 - 150 box.
APN bull flagBull flag in the making. Needs to close above R144 to trigger the long idea. Stop loss close below R138. 1st target at R148 and full target at R158.
APN still looking pretty goodGood trades take long... this is a lesson I have learned many times over.
So far so good for APN though.
