APN trade ideas
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 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.