APN trade ideas
$JSEAPN - Targeting R137Aspen has broken its short term downward TL nd is now well on its way to fill the huge gap higher up.
$JSEAPN Aspen After contraction comes expansionBullish looking flag break by Apen. Adding for a target of 12700 & possibly 13350
ASPEN - Hourly Breakout- breakout on hourly, oppurtunity to add to longer term position targeting gap close at R137
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:APN
Aspen run looking tired $APNAfter a good run from Aspen, it looks like the gap up will have to be wait to be filled. The share has run out of steam and tracking lower. Import level here as it should find support near its 50 day MA, otherwise likely to fall back to 200 day MA - which looks to be currently around R100
$JSEAPN DAILYAspen DAILY has moved up into the gap that was created in March. Price has started to retrace back towards SUPPORT and seems to be turning around. The DAILY STOCHASTIC has moved out of the oversold area and is heading up, this supports the idea that we will see more upside.
$JSEAPN DAILYAspen has had a good rally from R64.50, but after hitting the GAP RESISTANCE it is now making some sideways consolidation and forming a Bull Flag which signals that more upside is possible
$JSEAPN Aspen Consolidating after a good runMaybe time to take some profit off the table on this one. Can always enter at a lower level or add again if we break higher.
18 Oct 2019 - Aspen - JSE:APN - Long - Cup and Handle - MPTSince July 2019, it's been forming a Cup and Handle and finally has broken above.
Looks good for upside.
APN - RSI Signaling Pullback PotentialAPN 11884
- RSI losing trend line support in contrast to price remaining above TL support
- RSI breakdown is often 'early' signal of potential ST weakness (ahead)
- Candle Structure: A close below 11825 will form bearish engulfing candle
- Prior breakout zone (backtest): 11062
APN - Possible gap close coming upTraders don't like gaps in the price and there has been a large gap in JSE:APN since March this year.
The price ha finally reached the top of the candle that caused the gap, and if it confirms a break above the spike, I wouldn't be surprised if it goes all the way up and closes the gap. Let's wait and see what happens.
$JSEAPN - Gap to fill around R136Aspen has broken it short term downtrend and is now well on its way to close the gap. Disposal of its Japanese business should help to boost the stock.
$JSEAPN Aspen. Locking in some profitAfter a 30% ride, I'm locking in some profit. Waiting for a pullback. Think this one has more to give.
APN strong resistance or breakoutAPN possible resistance on weekly chart
expect accumulation or retracement set stop loss
or take profit
short or pull back a possibility
APN - Potential Bottom FormingWe may derive the following from the Weekly APN chart:
1. Price has respected the double bottom.
2. It is probable that price will test the resistance level first and come back down.
3. Monitor price action and wait for a long set up.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
APN possible turning pointJSE:APN has reached quite a significant resistance level which could mean a change in direction to the downside. I will keep an eye on this one to see if it breaks through the resistance and continues upwards. If so, I will enter long.
My outlook is bearish, however, and I anticipate that it will fail to break through and turn downwards for a short. As always, I will wait for confirmation before entering either way.
